Sterling Falls on Election Uncertainty, Traders Eye EU Meeting on Friday

Friday, 25 October 2019 07:45 WIB



The British pound fell on Friday versus the dollar and the euro after Prime Minister Boris Johnson's call for an election cast yet more uncertainty over Britain's divorce from the European Union.

Sentiment for sterling is likely to remain fragile ahead of a meeting later on Friday where European Union officials may decide how long they will extend Britain's deadline to leave the EU beyond the current date of Oct. 31.

At this stage, an election looks unlikely because the main opposition Labour Party has withheld its support and other opposition parties have rejected the offer.

The pound fell 0.14% to $1.2841 in Asia on Friday. For the week, sterling was on course for a 1.18% decline versus the greenback, its biggest weekly decline since Sept. 27. Sterling fell 0.1% to 86.49 pence per euro, on course for a 0.45% weekly decline.

Source : Reuters


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