EUR/USD: Consolidating the downside on 1.09, dust settles over Brexit

The bears are taking a breather as Europe gets underway, consolidating the downside near three-month lows after the Britons finally voted to move out of the European Union (EU), with Brexit officially declared.

The bearish pressures remain intact as the Brexit now would trigger another referendum wave, with the French and Dutch also calling for a vote out of the EU.

Last. EUR/USD traded at 1.0956, down -3.73%, although holding above March 2016 lows reached ahead of 1.08 handle.

Markets now await UK PM Cameron’s speech post the Brexit aftermath, with Sky News expecting the PM would trigger the Article 50 conventions at next week's European Summit.