The British Pound Sterling extended losses on Tuesday, January 10 following its lowest close in three months on renewed concerns about a hard Brexit.
Sterling edged lower after sharp drops on Monday and Friday pushed the currency to its lowest closing level since Oct. 11.
Standing at $1.215 on Tuesday, the British currency was 0.1 percent weaker, building on Monday’s fall of 1.0 percent, and Friday’s 1.1 percent drop. It just hit a new 10-week low against the US dollar, down another half a cent this morning.
Despite the British Prime Minister, Theresa May’s best efforts, the pound is under renewed pressure on Tuesday morning as investors fret about Brexit.
Sterling has fallen by 0.3% against the euro to €1.1466 in early trading, its lowest level since the 10th November.
Meanwhile, in Asian Trade, GBP steadied somewhat after weekend comments from British Prime Minister Theresa May sent it skidding to 2-1/2-month lows.
Her comments heightened fears about the impact of the UK’s exit from the European Union, as she said border controls would be prioritised over market access.
