Economic news

British pound moves down on EU customs union issue

The UK currency dipped both against the U.S. dollar and the euro today, pressured by the uncertainty over whether Britain can remain in the EU’s customs union after leaving the bloc.

Pound lost 0.1% declining to $1.3496, quite near this year’s lowest of $1.3452 registered in the week. Its position in relation to the euro gave up 0.2%, sliding to 87.475 pence for single euro.

The country would quit the EU customs union, Theresa May said yesterday, but according to a source, the government was mulling over a plan for applying external tariffs of the European Union after December 2020.


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