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Six-month Brexit delay sends sterling into the doldrums

The pound stumbled below $1.31 Thursday after a delay of up to six months to Brexit left traders scratching their heads about the direction for the British currency, with few expecting wild price swings in the months ahead.

Yet the decision failed to bring clarity on when, how or even if Brexit will indeed happen.

The three-month and six-month measures were back at January 2018 levels.

Thursday the pound edged lower to $1.3085 by 1420 GMT, while against the euro it was marginally weaker at 86.195 pence per euro.






Article source: http://www.dailystar.com.lb//Business/International/2019/Apr-12/480967-six-month-brexit-delay-sends-sterling-into-the-doldrums.ashx