Pound Suffers as Johnson Revives Hard Brexit Fears

Friday, 17 May 2019 16:07 WIB



The British pound was hovering just above a four-month low early Friday in Europe, as fears about Brexit returned to haunt the currency after a month of relative calm.

At 03:00 AM ET (07:00 GMT), sterling was at $1.2786, and had fallen to 1.1432 against the euro, on concerns that the U.K. may yet leave the EU without any sort of arrangements in place to cushion the transition.

The pound slipped after Theresa May told party colleagues she would set a timetable for her departure next month, irrespective of whether her proposed EU Withdrawal Agreement passes in the House of Commons at the fourth time of asking. That vote is pencilled in for the first full week of June, and there is little sign of it succeeding.

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