Pound at three-month low as PM May is pressured

Thursday, 16. May 2019 15:00

Sterling weakened across the board on Thursday amid negotiations between prominent Conservative lawmakers and Prime Minister Theresa May about the sustainability of her position. A significant number of Tory members of Parliament is demanding that she steps down, while she is insisting on the fourth attempt to pass the bill on the withdrawal from the European Union. May has refused to acknowledge whether another failure would lead to her resignation and vowed to deliver Brexit.

The British currency dropped 0.41% at 2:59 pm CET to $1.27947, the lowest mark since February 15. The euro gained 0.25% to £0.87433 after hitting £0.8748 for the first time since February 18. The pound's exchange rate declined 0.24% to 1.29273 Swiss francs following a dip to 1.2917, last seen on March 21. It fell 0.24% to ¥140.4305. Earlier the exchange rate reached ¥140.2005, the weakest point since January 17.

Related Links: 
Breaking the News / IT