GBP/USD Plummets as Article 50 Triggered, UK Exits EU

The US Dollar is gaining ground against several major currencies, including the British Pound and Euro. The British Pound has hit fresh yearly lows versus the Euro and US Dollar due to commentary on the triggering of Article 50 from the UK government. This move is seen as a sign that the UK will formally begin its exit process from the European Union.

The Atlanta Fed GDPNow Q3'16 growth tracker indicates weakening economic data in the US, which may not be driving the Dollar's gains today. The US economic calendar is quiet ahead, so it's worth examining these individual exogenous factors that are influencing currency prices.