The British pound fell nearly half a percent on Monday as concern revived that Britain will struggle to secure a deal on the terms of its departure from the European Union.
The pound fell to a three-year low below $1.20 earlier this month, then soared more than 4%. Most of the gains came last week, after parliament voted to force Prime Minister Boris Johnson to seek an extension to the current Oct. 31 deadline for leaving the EU if no agreement has been reached.
But no solution is in sight and weekend rhetoric from both Britain and the EU suggests their positions remain far apart.
Market focus is shifting to a meeting between Johnson and European Commission chief Jean-Claude Juncker today.
On Monday, the pound fell 0.4% to 1.2427 after briefly popping above $1.25 in early Asian trading, its highest in nearly two months.
29 May 2020 04:26 PM
Indian shares rose for the third straight session on Friday and finished the week sharply higher ahead of the release of domestic GDP data, thanks to a broad-based rally driven by institutional buyers.
29 May 2020 03:18 PM
The euro extended its gains on Friday to a two-month high as traders waited for U.S. President Donald Trump's response to China's tightening control over Hong Kong
29 May 2020 02:58 PM
The pound fell to a two-month low against the euro on Friday as Brexit talks and speculation about negative interest rates in Britain continue to weigh on sterling
29 May 2020 02:36 PM
The Indian rupee fell against the dollar this month, as the Sino-U.S. diplomatic spat over Hong Kong worsened and as U.S. President Donald Trump voiced his displeasure over China's handling of the coronavirus crisis.
29 May 2020 11:45 AM
Indian shares paused on Friday after two days of strong gains, led by a pullback in banking stocks, ahead of the release of domestic GDP data, while heightened U.S.-China tensions further weakened sentiment.
29 May 2020 11:16 AM
The yuan eased against the dollar on Friday and looked set for its third monthly loss in four