Sterling falls under pressure from dollar's rally

The British pound fell against most major currencies today, especially the US dollar which put pressure on its rivals, as the European Union and the United Kingdom continued to pursue lengthy negotiations.

The European Union agreed to postpone London's withdrawal from the bloc until October 31 at the request of the British Prime Minister Theresa May.

This comes in order to give London and Brussels the opportunity for further negotiations aimed at reaching a deal to detail their future relationship after the Brexit.

The British parliament has rejected three times an agreement already reached by "May" with Brussels for a flexible exit from the European Union, but at the same time agreed on a legislation aimed at not leaving the EU  without an agreement.

In terms of trading, by 18:33 GMT, Sterling pound dropped against the dollar by 0.4% to 1.299 and recorded a high of 1.3055 and a low of 1.2979.