Brexit drama continues. The sterling fell broadly on Wednesday and was on track for its longest ever losing streak against the euro.
Category: Features
Sterling fell below $1.27 for the first time since mid-January, battered by dollar strength and growing fears around Brexit. UK Prime Minister May will probably fail to persuade cabinet colleagues to back an amended version of her Brexit deal.
The dollar held onto last week’s gains on Monday as investors waited for Fed minutes, due on Wednesday.
Sterling hit a four-month low on Friday after cross-party Brexit talks collapsed. Concern grew about the impact Prime Minister Theresa May’s likely resignation would have on Britain’s exit from EU.
Gold prices slipped on Thursday as stronger dollar gained on the back of strong economic data from the United States. Gold prices also pressured by technical selling after repeatedly failing to breach $1,300 this week.