British pound rebounds above $1.25

British Pound rose today recovering from yesterday's losses, which pushed it near levels not seen in years, due to Brexit uncertainty.

While all indicators point for the victory of Boris Johnson to the post of prime minister, and after his statements, which showed a lack of interest in reaching a deal on the Brexit, increased doubts about the future relationship between London and Brussels.

Bank of England President Mark Carney said the central bank was ready to tackle any consequences of a slowdown in growth or the rising inflation.

After Theresa May government failed to pass the Brexit agreement three times this year, the European Union was given a deadline until October 31, by it the UK exit from the bloc should be fulfilled whether by agreement or not.

In terms of trade, by 18:43 GMT, GBP/USD rose by 0.7% to 1.2525, and recorded the highest price at 1.2529 and the lowest at 1.2424.