The Sterling pound today fell to new 4-moth lows against the US dollar as cross-party Brexit talks collapsed ahead of Theresa May’s impending resignation. The Labour Party officially called off the talks saying that there was no need to negotiate with a government that was about to collapse.
The British pound today traded lower against the US dollar even as Theresa May‘s government is buffeted by rebellions from members of her Conservative Party who have resigned from their positions. The pound’s decline was further accelerated by the risk-off sentiment among investors triggered by the imposition of more tariffs by the US government on Chinese exports.
The Great Britain pound ended trading lower against its major peers, being dragged down by comments from British Foreign Secretary Boris Johnson, who signaled that the process of Britain’s exit from the European Union may start earlier than it was previously anticipated.
UK pound is lower today, thanks in large part to concerns over the fact that there is uncertainty over what will happen when citizens vote in a referendum on European Union membership.
