Analysts at Brown Brothers Harriman explained that sterling is the weakest of the major currencies.
Key Quotes:
“The combination of the Brexit fears, concern that the Tory Party itself is being torn asunder by very referendum that the Prime Minister had hoped would unite the party, and the unwinding of the recent record large jump in speculative long sterling positions in the futures market has kept the pound under the cosh.
Today is thus far the first session this week that sterling has not traded below the previous day’s lows.”
(Market News Provided by FXstreet)