Trade-weighted sterling near record low, Brexit focus shifts to High Court

Trade-weighted sterling near record low, Brexit focus shifts to High Court
 

Sterling was near a record low in trade-weighted terms on Thursday as focus turned to the High Court which will hear a legal bid to force the British government to seek parliamentary approval to trigger the formal Brexit process.
After a steep sell-off in the last two weeks caused by uncertainty over Brexit, the pound surged as much as 1.5 percent against the dollar and the euro on Wednesday after British Prime Minister Theresa May said she would allow lawmakers some scrutiny over the process.
May had drawn the ire of many in parliament for refusing to divulge her strategy and saying she... read more

 
13 October 2016 in Business, Views: 36
Source: Reuters
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