Sterling Tumbles As Brexit Draws Out – 11 April, 2019

Investors are confused about the future of the pound when a possible six month delay in Brexit caused sterling to sink below the $1.31 mark, leaving many concerned about how far the currency will swing in the months leading up to the divorce.  Since mid February, the pound has remained in the $1.29-$1.34 range. Sterling dropped to #1.3085 on Thursday, and was last trading at 86.195 pence against the euro. Britain’s parliament has made it difficult for Prime Minister Theresa May to pass her withdrawal deal, leaving her pondering the possibility of appealing to the public to vote on her Brexit plan to resolve issues holding up parliament.