The pound retraced gains after briefly hitting the highest levels of the day as British Prime Minister Theresa May triggered Article 50, formally beginning the two year process of the UK’s exit from the European Union.
The European commission has blocked the proposed £21bn merger of the London Stock Exchange and its German rival Deutsche Borse, ending plans for the tie-up on the day that Britain officially requests to leave the EU.
The Enforcement Directorate (ED) on Wednesday arrested two importers mobile phone accessories Manmohan Singh Sehgal and Gagandeep Singh Sehgal under Prevention of Money Laundering Act (PMLA) in the Bank of Baroda case relating to shell companies using the public sector bank for money laundering during UPA.
U.S. futures are flat this morning as investors watch developments in Europe as Britain starts the process to exit from the European Union.
Next trading day's important events
- USDJPY: 110.87
- EURUSD: 1.0753
- S&P 500: 2357.33
- NASDAQ: 5885.77