Sterling Hovers Near Four Month Low- 4 June, 2019

Ongoing concerns that Britain will have to leave the European Union without a terms agreement as well as weak UK data has caused the pound to drop for four straight weeks, despite U.S. President Trumps promise of a “phenomenal” trade deal post Brexit. Sterling rose by 0.2%, rising out of five month lows, to $1.2681. It gained 0.2% against the euro to 88.57 pence, just above a four and half month low. Prime Minister Theresa May is resigning, with worries that a replacement might choose to leave the EU with or without a deal.