Pressure On PM May Affects Sterling – 23 April, 2019

Pressure for Britain’s Prime Minister Theresa May to step down from her position should a Brexit deal not be reached soon caused sterling to dip to a two month low. The opposition Labour party has defeated May’s Brexit agreement proposals three times already, and with the Prime Minister feeling the pressure to make a deal, sterling dropped by as much as 0.3 percent to $1.2928, its weakest since February. Against the euro, the pound gained 0.2 percent to 86.57 as the single currency was hit by the dollars rally.