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Sterling Rises on Report of 'No-Deal' Brexit Shipping Fix


Monday, 4 February 2019 23:50 WIB

poundSterling,Poundsterling


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Sterling rose on Monday after a newspaper report said that goods shipped to Britain from the European Union could be waved through without checks in the event of a "no-deal" Brexit.

The Sun newspaper report that British customs will avoid checking goods from the EU for a temporary period to avoid hold ups at ports sent the British currency over the $1.31 line.

At 15:20 GMT sterling was up 0.1 percent at $1.3093 and up 0.3 percent against a weaker euro at 87.32 pence.

On Friday sterling suffered its biggest weekly loss since mid-December partly because of survey data showing uncertainty sweeping British manufacturers ahead of Brexit.

Source : Reuters


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