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The Pound lost ground against its major peers on Thursday, erasing some of its gains from earlier in the week against the US Dollar.
The US Dollar slumped to its weakest position in seven weeks against its trade-weighted basket of currencies on Wednesday.
The Supreme Court caused no major surprises on Tuesday by announcing that Theresa May must seek parliamentary approval before formal EU exit.
Sterling was one of the best performing major currencies in the world as markets opened for the week on Monday with the currency rallying against USD.
Sterling provided the big surprise last week. It rose sharply after the much awaited Tuesday speech by the PM Theresa May.
The US Dollar rallied against its major peers on Thursday with the market looking ahead to President Donald Trump’s inauguration.
The Pound gave up much of its gains during Asian and London trading on Wednesday, having surged by over 2% on Tuesday following May speech.
UK Prime Minister Theresa May triggered Sterling’s best daily performance since 2008 on Tuesday, with the Pound surging by over 2%.
The Pound steadied itself around its lowest level against the US Dollar since the surprise ‘flash crash’ in October on Monday.
The US Dollar had rallied since the US election on vague notions that the incoming Administration would add fiscal stimulus to the economy.
