British Pound rises, recovers after earlier losses

British pound rose against US dollar and recovered losses reached earlier in the day after a survey showed that the chances of the exit from the European Union  without agreement were high.

A survey conducted by Bank of America Merrill Lynch found that more than 60% of analysts believe the United Kingdom is on the verge of the exiting the EU without an agreement.

The British currency has lost more than 5% of its value to its US counterpart since May, especially after former Prime Minister Theresa May announced her resignation, as the decision came into force on June 7th.

Politician Boris Johnson, the more favourable candidate to succeed Theresa May, has pledged the fulfillment of the Brexit before the end of October, whether by an agreement or not.

In terms of trading, by 19:15 GMT, British pound rose against dollar by 0.2% to 1.256, and recorded the highest price at 1.2564 and the lowest price at 1.2507.