On Tuesday, the British pound dived to two-month minimums against the greenback, as the prospect of the UK triggering its exit from the European Union as well as a second Scottish independence referendum weighed.
The currency pair GBP/USD reached 1.2109, the weakest outcome since January 17.
The sag in the British currency came after the UK parliament gave its approval to Prime Minister Theresa May’s Brexit bill, providing her with the power to formally trigger article 50 of the Lisbon Treaty just to launch divorce proceedings with the European Union.
The British pound was also affected by Scotland’s push for a new independence referendum that deepened political uncertainty as for Brexit.
Britain’s sterling was also lower against the common currency, with EUR/GBP soaring 0.58% and getting to 0.8768, which is not far from Monday’s eight-week peaks of 0.8786.
The euro pared back some revenues after data demonstrating that German investor morale improved moderately in March as uncertainty over the outcome of key EU elections remained high.
