Pound trades with losses amid Brexit developments

Friday, 21. June 2019 12:00

The British pound fell on Friday amid recent developments related to the country's divorce from the European Union. Xavier Bettel , the Prime Minister of Luxembourg, said earlier that a new withdrawal agreement is not an option at the table in Brussels, pointing out that the deal negotiated by Prime Minister Theresa May was the best possible deal.

In other news, former Foreign Secretary Boris Johnson won the fifth round of the Tory leadership race, securing support of 162 MPs. Also, the Bank of England voted yesterday to keep the interest rates steady in an effort to meet its 2% inflation target.

The pound was 0.34% lower compared to the dollar, selling for 1.2659 at 11:58 am CET, while the euro advanced 0.42% against the pound, buying 0.8925 at 11:59 am CET. Meanwhile, sterling dropped 0.13% against the yen, to change hands for 136.125 at 12:00 pm CET.

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