Sterling steadied on Wednesday as Prime Minister Theresa May tried to persuade the European Union to modify her Brexit deal to avoid a disorderly British departure from the bloc.
EU Council President Donald Tusk said on Wednesday that he would make no new offer on Brexit and those who promoted Britain’s exit without any understanding of how to deliver it deserve a “special place in hell”.
The pound has been supported in 2019 by a growing belief that a last-minute agreement will avert a no-deal Brexit. But jitters have returned since a Jan. 29 vote in parliament that asked May to persuade the EU to accept changes to the Brexit agreement.
Sterling on Wednesday was flat at $1.2954, not far off a two-week low of $1.2923. It was up 0.2 percent against the euro at 87.85 pence.
Source : Reuters