Sterling fell more 0.5% as concerns grew that May’s offer to resign failed to convince her party hardline eurosceptics to support her Brexit withdrawal deal.
Category: Features
The pound lost 0.3% to $1.3167 before steadying near $1.32 as Britain’s parliament ahead of a series of Brexit votes.
Despite a slowdown in the euro zone economy the euro has remained in a range of $1.12 to $1.16 in 2019. The single currency held around $1.13 on Tuesday after economic surveys showed tentative signs of recovery in the euro zone economy.
The British currency held above $1.31 on Friday after recovering overnight when EU offered a last chance for Britain. EU leaders gave Prime Minister Theresa May a two-week notice to arrange how Britain will leave the European Union.
The greenback rebounds on Thursday, recouping most of the ground lost in the previous session. The Federal Reserve jolted markets by abandoning all plans to raise rates this year.