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Sterling Edges Lower as Britain Serves Ultimatum to EU


Friday, 15 May 2020 23:26 WIB

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Sterling weakened on Friday, hitting its lowest for more than a month, after Britain and the European Union exchanged threats over a post-Brexit trade deal.

British chief negotiator David Frost said on Friday the major obstacle to a deal was the EU's demand to include a set of "novel and unbalanced” proposals on a so-called "level playing field” that would bind Britain to EU rules.

The EU's chief negotiator, Michel Barnier, said the third round of talks was disappointing and that the EU would not "bargain away our values for the benefit of the British economy.”

The pound fell to $1.2115, its lowest since March 26, last trading 0.9% lower at $1.2120. It was also falling versus the euro, down by 1% to 89.24 pence.

Source : Reuters


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