British pound stuck at low level

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British pound stuck at low level

August 24, 2018 - 11:49
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Pound fell related to euro to the lowest level since September 2017, Reuters reports. Rise of common currency along with concerns in regards to possible exit of UK from European Union without any agreements put pressure on pound.

Photo © ScouserUK, CC0 1.0

Pound fell related to euro to the lowest level since September 2017, Reuters reports. Rise of common currency along with concerns in regards to possible exit of UK from European Union without any agreements put pressure on pound.

UK's currency is traded at rate 90,27 pence per euro. Related to weakening dollar it gained 0,2% to $1,2834.

Sterling is coming through a tough month mostly due to worries that UK will not be able to agree on any trade conditions before its exit from EU in March of 2019.

Brexit's Minister announced this week that London may reach trade deal in October, however, government's plan in case of no-deal Brexit was laid out as well.

On the other side, EU leaders think that deadline set for October will not be fulfilled and, most likely, emergency summit on Brexit will be held in November.