Sterling slips amid Brexit uncertainty

The British pound edged lower against the US dollar on Monday, following UK Finance Minister's statements about exiting the European Union.

UK Finance Minister, Sajid Javid, said that the UK will not be alignment and a rule taker of the European Union after the Brexit, which is due January 31.

Javed added that the UK "will not be in the single market and we will not be in the customs union" after the Brexit.

While British Prime Minister Boris Johnson or any of his government officials have not yet talked about the transitional period after Brexit, which will conclude by the end of the year, amid the lack of cues about a deal with Brussels.

GBP/USD fell by 0.1% to 1.2984 as of 15:55 GMT, and hit an intraday high of 1.3016 and a low of 1.2962.