UK: Once cable broke $1.24, it has not looked back - BBH

In view of the analysts at BBH, Sterling continues to trade like a dog as last Friday was the only session since February 23 that it has not fallen and once cable broke $1.24, it has not looked back.  

Key Quotes

“Perhaps the Gilt market is awaiting Hammond's budget, but the foreign exchange market is not.  Sterling is extending its losses below $1.22.  We continue to look for a test of the two-point trendline from the spikes of the flash crash last October and the mid-January dip below $1.20.  It is found near $1.2050 and edges up to about $1.2065 by next Wednesday (when the Fed meets and the Dutch hold elections).”