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BANKING & FINANCENEWSLETTER

Sterling Crashes as Lawmakers Dumps May Over Brexit

Sterling

Sterling dropped to the day’s low on Wednesday after three lawmakers resigned from Prime Minister Theresa May’s ruling Conservative party in a blow to her attempts to unite her party around Brexit.

The pound fell around 0.2 percent to the day’s low of $1.3012, down 0.4 percent on the day.

It had traded at $1.3031 before the announcement by the lawmakers, long critical of May’s Brexit strategy to leave the European Union.

Sterling also extended losses versus the euro.

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