Pound extends losses amid Brexit woes

Thursday, 23. May 2019 10:26

The British pound extended losses against other major currencies on Thursday, dropping to a new over-four-month low against the dollar on Brexit-related tensions in the United Kingdom.

The pressure on UK Prime Minister Theresa May to quit has intensified since she presented a revised version of her withdrawal agreement bill, which includes giving lawmakers the option to vote to stage a second referendum on whether the country should leave the European Union. House of Commons Leader Andrea Leadsom resigned yesterday as a result of her opposition to May's deal proposal and media reported several other ministers may follow suit.

Sterling fell 0.41% against the dollar to sell for 1.26101 at 10:22 am CET and it slid 0.53% compared to the yen to go for 138.9735 at 10:23 am CET. The euro gained 0.28% against the UK currency to change hands for 0.88307 at 10:23 am CET.

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Breaking the News / NP