Asian markets on Monday traded pounds to about 0.4% decrease against the dollar.
Experts indicated in a report by the Times of London, that Prime Minister Theresa May has offered the Scottish Government to convene an independent second referendum to coincide with the activation of Article 50 in March.
Ray Attrill, strategist at National Australia Bank said that if the markets actually believe that there may be another independent referendum much sooner than that, then remember the strong collapse of the pound in September 2014, just before the prior referendum. The memory of that makes Sterling a fairly easy sell here.
According to a senior trader Stephen Innes, pound's decline could have been a result of traders hedging hedging bets that U.K. economic data will likely be on the soft side in the future and also due to the lingering uncertainty over Brexit negotiations.
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