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After climbing to almost $1.23 yesterday afternoon, the GBP/USD cross now finds itself trading just above $1.21, after talk of a "hard Brexit" has once again hurt the value of the pound.
GBP/USD graph
Why has the pound fallen?
The pound started to slip after a spokesperson announced that Prime Minister Theresa May will deliver a speech next week, which will set out her plans for Britain leaving the European Union.
Following her comments last Sunday, investors are expecting May to push ahead with a hard approach to negotiations, which could see her give up the UK's access to the single market in order to focus on immigration controls.
What can we expect over the next couple of months?
I think the one thing we can be certain of over the next few months is uncertainty. We have seen a two per cent swing in the value of the GBP/USD cross this week and I expect we will continue to see the currency pair move in a similar fashion until negotiations have finished.
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