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Sterling pinned at 7-month lows before parliament Brexit vote


Wednesday, 20 June 2018 15:49 WIB

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Sterling slid to a fresh seven-month low against the dollar on Wednesday as concerns over the latest round of Brexit negotiations sapped demand for the British currency before a central bank meeting on Thursday.

Prime Minister Theresa May will ask the lower House of Commons to pass her Brexit blueprint, or EU withdrawal bill. This legislation will prepare Britain for a divorce next March that will end its more than four-decade-old trading and political partnership with the rest of Europe.

On Wednesday, sterling edged 0.1 percent lower at $1.3145, its lowest since mid-November 2017. The currency has fallen 8.6 percent since hitting a 22-month high above $1.4370 in mid-April.

Against the euro, the British currency was broadly flat at 87.96 pence.

Source: Reuters


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