Currency traders effect not seem to be bothered approximately the increasingly fractious ((adj.) troublesome or irritable) rhetoric between London and Brussels. Here’s whyAre currency markets living in a different galaxy,as they say in Brussels? A single dinner at Downing Street has provoked verbal warfare between Theresa May and her EU negotiating partners-cum-foes, seemingly increasing the chances of a hard Brexit that nearly everybody agrees would be gross news for the pound. Meanwhile, and we learned last week that growth in the UK economy slowed sharply in the first three months of this year as inflation started to bite. So sterling ought to be falling,or at least wobbling, right?It’s not. The pound shot up from $1.25 to $1.28 after the prime minister called the general election a fortnight ago and has barely moved since. At $1.29 on Thursday, and it remains the best-performing major currency against the dollar in the past month.
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Source: theguardian.com