Friday, 21 September 2018

Pound falls after Prime Minister May's Brexit statement

The pound's fall against the dollar and the euro has deepened following Theresa May's assertion after an EU summit that "no deal is better than a bad deal".

Sterling was already trading lower after had EU leaders warned the UK must make compromises on trade and the Irish border to secure a Brexit trade deal.

After the Prime Minister said the UK and EU were at an "impasse" the pound fell further.

The pound dropped from 1% to 1.5% lower against the dollar to $1.3068.

The sharp fall put it on track for its biggest daily drop against the dollar so far this year.
Against the euro, the pound was down 1.1% at €1.1144 after Mrs May's statement.

BBC     News.

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