Pound Hovers Above Four Month Low – 22 May, 2019

Reaction to the news that Prime Minister Theresa May is about to resign helped the pound gain back some off its losses and halt it in its tracks just before it hit the new record of longest ever losing streak against the euro. Sterling fell to a four month low against the dollar by as much as 0.6%, with May’s Brexit plan continuously being turned down by both her own party as well as opposition lawmakers. At its lowest since January, the pound fell to $1.2625, weakening 0.25%against the euro to 88.05 pence.