Sterling skids to fresh 7 1/2 month low as Brexit pressures grow

Thursday, 28 June 2018 16:43 WIB



The pound fell to its lowest since mid-November on Thursday as investors fretted that the message to come out of a European Union summit will be that there has been no meaningful progress for months in negotiations on a Brexit deal.

The British currency slid 0.4 percent to as low as $1.3066 in early European trading, its weakest since Nov. 13.

The latest drop means the pound has tumbled more than 9 percent since a post-Brexit referendum high in April, sent lower in part by a resurgent dollar but also by mounting worries about Britain's economy less than a year before Britain departs the EU.

Against the euro sterling also fell, 0.2 percent to 88.29 pence per euro. It earlier had weakened to its lowest level since early May.

Source : Reuters


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