British Pound Sterling, on Friday, October 6, dipped to its lowest against the dollar in a month as it headed for its worst week in a year, amid growing worries over Theresa May’s future as British prime minister, as well as over the health of the economy.
The pound fell to as low as $1.3060 in morning trade in London, its weakest since Sept. 7 and down almost half a percent on the day.
Against the euro, it slipped 0.3 percent to a three-week low of 89.94 pence.
May reinforced markets’ doubts about her ability to govern effectively – and see off any leadership bids from rivals in her Cabinet – in a poorly-received keynote speech at the annual Conservative party conference on Wednesday.
Purchasing managers index (PMI) surveys this week pointed to tepid growth in Britain’s economy, Reuters reports.
