Analysts at Scotiabank explained Cable has more than fully reversed the late Friday surge to 1.44 that followed news of the UK’s “Brexit” deal with the EU. Key Quotes: "That was actually the easy part of the process. Weekend developments have underlined just how hard it may be for PM Cameron to “sell” the deal to the UK populace and keep the UK in the EU." "The referendum has been scheduled for June 23, as was widely expected. High profile Tories, notably including London Mayor Johnson, have sided with the “leave” camp which is perceived as a boost to the exit campaign." "Expect sterling to be highly sensitive to opinion polls going forward. There was no better news on the data front; the CBI’s Industrial Trends orders data fell to -17 in February. Today’s drop is the largest 1-day fall in Cable since 2009." For more information, read our latest forex news.