Pound drops to one-month low against dollar

Friday, 05. March 2021 12:16

The pound sterling fell to the lowest point since early February compared to the dollar amid new tensions surrounding the post-Brexit relationship between the United Kingdom and the European Union. The EU announced it will initiate infringement proceedings after the UK unilaterally extended the grace period for the export of certain goods. The European Parliament is also said to have delayed the ratification of the EU-UK trade deal because of this development. Meanwhile, a new report revealed that UK house prices decreased by 0.1% in February on a monthly basis.

The pound lost 0.68% versus the dollar at 6:14 am ET, selling for 1.37960.

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Breaking the News / DJ