Sterling falls to its lowest level since mid-2017

British pound declined during trading today, continuing its losses that pushed it to levels that have not reached since mid-2017 as it fell below $1.25 today.

Analysts predict that the British currency will continue to break support below $1.25, and may reach $1.20.

This comes with continued uncertainty about the new British government's policy and its handling of the Brexit package and the possibility of negotiating an agreement.

Labor leader Jeremy Corbyn is demanding a referendum for the British people to decide on the exit from the EU.

This state of uncertainty coincides with widespread speculations that the Bank of England will soon decide to cut interest rates.

In terms of trade, by 18:31 GMT, GBP/USD fell by 0.4% to 1.2465, with a high of 1.2524 and a low of 1.244.