Economic news

Pound dips to one-year trough against euro on no-deal Brexit fears

The pound slumped to a near one-year weak point versus the euro on Tuesday following British Prime Minister Theresa May's statement that departure from the EU without a deal will not be the “end of the world”.

Photo: Reuters

May’s comments weighed on the British currency which slid to 90.73 pence a euro, its weakest level since Sept. 12, 2017. Versus the greenback it was virtually unchanged at $1.2898.

According to Reuters poll, sterling will ease to $1.20 in the case of no-deal scenario.

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