Pound Drops To Seven Month Low Against Dollar – 19 June, 2018

Sterling fell for a second day against the greenback, dropping to a seven month low against the dollar. The loss came as Prime Minister Theresa May lost a vote on her Brexit legislation. The drop also comes with growing doubts over an August BOE interest rate hike. The pound had dropped to $1.3200 and 0.3 percent, hitting its lowest level since November, but remained little changed against the euro at 87.70 pence.