The British Pound Sterling crashed to a one-month low versus the euro on Thursday, June 7, as investors sold the British currency before the British government publishes its proposals for a “backstop” plan for the Irish border.
The single currency rallied to its highest levels since early May against sterling at 88.37 pence.
Sterling also weakened against the dollar, reversing its earlier gains. In early afternoon trading, the British currency was down a quarter of a percent at $1.3375.
Meanwhile, the dollar index dropped 0.4 percent to its weakest since May 17, helping currencies including sterling GBP= claw back some of their recent losses.
The euro leaped to a three-week high, as investors raised their bets that the European Central Bank will next week signal a winding down of its vast bond-buying program by the end of this year.
