Lack Of Brexit Trade Plans Causes Sterling To Dip – 27 May, 2020

Comments made by Britain’s government officials about the progress of Brexit negotiations highlighted the possibility of negative interest rates, causing the pound to fall 1%. Despite the UK leaving the European Union at the end of January, trade deals remain to be negotiated and were set to be finalized by the end of the year, though the pauses caused by the spread of the coronavirus have caused major delays in negotiations. Sterling was last standing 1.1% lower at $1.2209. Against he euro, the pound fell to a six day low, dipping 0.9% to 89.93 pence.