Pound lowest since early January amid govt crisis

Wednesday, 22. May 2019 17:10

Sterling continued to decline against the euro on Wednesday, marking the thirteenth consecutive session with losses, a record since the introduction of the joint currency in 1999. While the exchange rate touched 0.88398 per euro for the first time since February 14 and testing a four-month record, the pound fell to the weakest point since January 4 versus the dollar.

Parallel to the latest increase in perceived risk from a no-deal Brexit, rumors reported by the media from the cabinet of the United Kingdom's Prime Minister Theresa May indicated pressure by her minister on her to resign.

The British currency was down 0.36% at 5:09 pm CET, selling for $1.266 after dipping to $1.26241. The euro advanced 0.32% to £0.88124. The pound fell 0.59% to 1.2771 Swiss francs following a fall to 1.27326, the lowest level since January 17. It lost 0.53% to ¥139.64 and the minimum in the session, ¥139.31, was last registered on January 16.

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