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Sterling Falls 0.7% Against Euro Amid Worries on Funding for UK Spending Plan


Monday, 29 June 2020 18:55 WIB

poundSterling,PoundsterlingGBP/EUR


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Sterling fell on Monday to 91.60 pence against the euro as investors shifted the focus to how Britain's government will pay for its planned big infrastructure programme, while Brexit-related risks kept pressure on the pound.

Prime Minister Boris Johnson said he would double down on plans to increase public investment after Home Secretary (interior minister) Priti Patel said the government would roll out a plan on Tuesday to boost spending in infrastructure.

After rising on the infrastructure spending promise in earlier trading against a weakening dollar, with investor fears of a fresh U.S. coronavirus wave also weighing, the pound fell 0.2% to $1.2318 at 11:02 GMT.

Against the euro, sterling was down 0.7% at 91.60 pence, below levels on Friday when it touched its lowest against the single currency since March 26.

Source : Reuters


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