Pound Drops to 31-Year Low in Brace for Hard Brexit

The video discusses the impact of Brexit on the FX market, focusing on the likelihood of a hard Brexit and its implications for market dynamics. It explores currency market trends, particularly the bearish outlook on the dollar and the potential for euro sterling upside. The discussion also covers real rate differentials and their influence on the US dollar's performance.

What does the term 'hard Brexit' imply in the context of the FX market discussion?

What was the initial market reaction following the Brexit referendum?