Euro, Sterling Inch Higher After Brexit Postponement

Thursday, 11 April 2019 16:05 WIB



The euro and pound were little changed against each other and higher against the dollar in early trading in Europe Thursday after the European Union agreed to push back the U.K.’s departure date as far as Oct. 31.

The decision essentially leaves the pound in limbo, with the possibility of a no-deal Brexit still very much alive, and the prospect of a chaotic campaign for European elections to come. As such, it’s unlikely to end the uncertainty that has depressed both business and consumer sentiment in recent weeks. The U.K. will be forced out of the EU on June 1st if it fails to take part in those elections.

At 04:10 AM ET (08:10 GMT), the euro was at $1.1287, up 0.2% from late Wednesday in Europe, while the pound was at $1.3096, virtually unchanged.

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