Economic news

Sterling hit by Britain's politics

The pound fluctuated on Monday following the unexpected resignation of two key UK ministers after a major row with Theresa May over her Brexit plan.

Photo: Reuters

Sterling lost a third of a U.S. cent to $1.3290 on news British Brexit Secretary David Davis and Brexit Minister Steven Baker had resigned from government.

The dollar's index had retreated to 93.853 .DXY, from a high of 94.486 on Friday.

The euro was stable at $1.1767, while the greenback was unchanged on the yen at 110.44.

The Aussie gained half a percent to $0.7463.

Elsewhere, the Chinese yuan advanced half a percent in offshore markets to 6.6292 versus the dollar, further away from the trough touched in June - its largest ever monthly drop.


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