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Pound Rises as Brexit Divisions Deepen


Tuesday, 19 February 2019 00:09 WIB

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Sterling gained on Monday after registering three consecutive weeks of losses as investors waited for the outcome of Brexit talks between Britain and the European Union.

A split in Britain’s opposition Labour Party - with seven politicians quitting on Monday in protest against Jeremy Corbyn’s leadership - will likely weigh on the pound as the move increases political uncertainty, according to MizuhoInternational.

Meanwhile, Prime Minister Theresa May is leading a last-ditch diplomatic drive to persuade EU leaders to save her Brexit agreement as she faces a rebellion from Cabinet ministers who want to stop the UK leaving without a deal.

The pound climbed 0.3 percent higher at $1.2929. Against the euro it rose 0.2 percent to 87.30 pence.

Source : Reuters


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