The pound continued its losses amid new concerns that the\nnew British prime minister would accept a Brexit deal\nwithout a formal deal. The pound fell against the dollar to $1.2418 per\npound on Tuesday, its lowest level since April 11, 2017. The British currency\nfell against the euro to a six-month low.<\/p>\n\n\n\n
The pound fell to a three-day low on Tuesday as weak\neconomic data in the United Kingdom put even more tension regaring Brexit,\nwhich is due to the end of October. The GBP fell 0.7% on Tuesday, reaching\n$1.2418 late in the morning. The currency recorded a 27-month low against the\nUS dollar and a six-month low against the euro. In addition to the single\nEuropean currency, the pound also suffered 10 consecutive weeks of losses – the\nlongest losing streak ever.<\/p>\n\n\n\n
In a research note released on Tuesday, analysts on the\nLondon Stock Exchange (LSE) described the decline in the pound sterling as\n“the story of the day” and indicated that there was a possibility\nthat there would be more downside risks. Furthermore, markets are concerned\nthat the volume starts from a very low base and that\nhedge flows will rise further. Analysts also said they expected a rise\nin volatility in the pound trade once lawmakers returned to the House of\nCommons in September after their summer vacations.<\/p>\n\n\n\n
The British pound was one of the worst performing currencies\nthis year. The latest factor that led to the sterling’s losses against major\nrivals is the current race to replace Theresa May as Conservative\nParty leader and British prime minister. Former London mayor and former\nforeign minister Boris Johnson is the favorite, likely to defeat Foreign\nSecretary Jeremy Hunt and become the next prime minister.<\/p>\n\n\n\n
The two men took a tough stance on future negotiations with\nthe European Union. In previous meetings with Conservative members, they said\nthey were ready to withdraw without reaching an agreement on Oct. 31. In a\ntelevised debate on Monday, they both announced that the Northern Ireland case\nmight limit the UK to an indefinite union with the\nEuropean Union.<\/p>\n\n\n\n
Theresa May\u2019s team agreed with Brussels on support as a means of ensuring that there are no\nphysical borders established on the island of Ireland between Northern Ireland\n(which is part of the UK) and the Republic of Ireland (a separate country that\nwill remain a EU member state).<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound continued its losses amid new concerns that the new British prime minister would accept a Brexit deal without a formal deal. The pound fell against the dollar to $1.2418 per pound on Tuesday, […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,36,34,114,120,25,26,29,110,48,24,33,131,109,121,39,81,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1302"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1302"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1302\/revisions"}],"predecessor-version":[{"id":1304,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1302\/revisions\/1304"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1303"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}