Fears over ‘hard Brexit’ push pound to 31-year low



Sterling plunged to a new 31-year low against the dollar today as fears over a so-called “hard Brexit” intensified.
The pound fell 0.5 per cent against the greenback in morning trading to $1.276, its lowest level since 1985. Sterling was also down 0.2 per cent against the euro at €1.14.
Investors have been spooked by a series of announcements at the Conservative Party conference, where Prime Minister Theresa May said the two-year process of negotiating Brexit under Article 50 of the EU treaties will start by the end of March, putting the UK on course for a “hard Brexit”.
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4 October 2016 in Business, Views: 29
Source: Scotsman
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