Sterling Slips On Labour Party's Remarks

The British pound fell slightly against its US counterpart after comments by the opposition Labour Party leader, Jeremy Corbyn.

Corbin expressed his party's intention to apply for a new referendum to the parliament on the exit from the European Union (Brexit) after the 2016 referendum showed support for departure.

The party said it would continue to hold lengthy talks with trade unions and business sides in the United Kingdom to support the holding of the second referendum on the Brexit before the parliament's recess at the end of this month.

The United Kingdom is expected to exit the EU on October 31 without an agreement that would guarantee having privileges in the customs union.

Boris Johnson, the most favourable candidate to win the premiership as the successor to Theresa May said that he must prepare for the withdrawal from the bloc without an agreement.

In terms of trade, by 18:30 GMT, British pound fell against US dollar by 0.1% to 1.2577, with a high of 1.2601 and a low of 1.2557.