Sterling drops to ten-week low
2017-01-10 17:08:32 GMT (Economies.com)
Sterling drops to ten-week low

Sterling fell on Tuesday to a ten-week trough after U.K. Prime Minister Theresa May's statements about preserving the remnants of the EU membership, showing the weakness of the British side in negotiations.
 
GBP/USD last traded at 1.2189, down from the opening of 1.2172, with an intraday high at 1.2190, and a low at 1.2110.
 
Sterling's drop comes after Prime Minister May said Britain will work on preserving the remnants of its European Union's membership, raising the selling pressures on the royal currency.
 
On the other hand, May warned of unsafe exit from the EU, which resurfaced the markets' fears about Brexit, and forced the pound to return to near its lowest levels since 1985.
 
Sterling's slide today comes despite dollar's deepening decline against main currencies, which would've helped the pound but May's comments offset dollar's weakness.

 
 
 
  Symbol Last Change Chg.%
1.1193
0.0040
0.3573%
1.2720
0.0038
0.2981%
16.720
0.153
0.924%
43.115
0.330
0.771%
45.66
0.44
0.97%
1256.695
6.200
0.496%
 
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