Economic news

Pound is down to lowest in almost year as Brexit without deal called likely

The UK currency went down to the minimum of 11 months today on statements from the country’s officials that Britain might fall out of the EU reaching no deal quite shortly, which spooked investors.

Photo: Reuters

In London trading the pound slipped to $1.2954 today, the bottom of a little over two weeks, losing around 0.3% in the session. Versus the euro it diminished to 89.20 pence, falling 0.2%, and dropped the steepest against the dollar compared to other main currencies.

Lasting talks on Brexit have become a steering wheel for the pound’s movements considering that worries grow as to the negative effect of it on trade.

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