In one day, sterling lost all of the gains that it had built up during the week and this shows just how sensitive the currency is to Brexit news. At the start of the month, it appeared that a deal was close but the talks broke down when Prime Minister May said they were at an impasse this week. She said they are far apart on two big issues and the UK expects respect from the EU rather than an outright refusal to accept their proposal. The biggest hang ups are their post Brexit economic relationship and the Irish border. May sees no deal as better than a bad deal, which is bad news for sterling especially as her own ... (full story)