Sterling on the decline

Sterling decreases because of Brexit talks and doubts that the BoE will raise interest rates.

Sterling fell on Wednesday due to doubts that the Bank of England will raise interest rates. Looming Brexit talks have also affected the British currency. Sterling was down on most of its pairs on Wednesday.

As of 3:47pm on Wednesday, sterling is down against the Japanese yen .60% since the start of the day. It is down against USD by .83 percent and even down against CAD by .35%.

Sterling traders are also being cautious due to the EU summit this week hoping Britain to strike a good deal with the EU about Brexit.