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Sterling Below 8-Month Highs as Brexit Talks Drag


Thursday, 7 March 2019 17:30 WIB

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The pound held below an eight-month high hit last week on Thursday as investors waited for some clarity to emerge out of Brexit negotiations between the Britain and the European Union.

Diplomats said talks in Brussels on Tuesday led by British Prime Minister Theresa May's chief lawyer, Geoffrey Cox, failed to find common ground, with barely over three weeks to go before Britain's scheduled departure on March 29.

Further adding to the uncertainty was an amendment passed by Britain's House of Lords on Wednesday calling for the government to negotiate a customs union with the European Union, giving May a potential new headache in her Brexit plans.

The pound was broadly steady at $1.3168 and just below a eight-month high of $1.3351 last week. Against the euro, it was broadly steady at 85.90 pence.

Source : Rueters


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