3/24/2017, 11:49 AM (Source: TeleTrader)
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Pound trades lower on Juncker Brexit remarks

British pound traded lower against a basket of world currencies on Friday as investment concerns increased after President of the European Commission Jean-Claude Juncker said earlier the UK will have to pay around £50 billion for Brexit.

Meanwhile, household borrowings have jumped 4.6% in the UK while consumer credit also increased at an annual rate of 6.6%, according to the British Bankers Associations. However, the data raised concerns, as investors grew worried whether the borrowings were firmly backed after last week’s data showed annual pay growth in Britain declined to 0.7% for the last quarter of 2016.

Sterling shed 0.50% against the euro at 1.1554 at 11:44 am CET. The pound was also lower against the dollar, losing 0.28% to trade for 1.2486 at 11:39 am CET while it also decreased against the Swiss franc by 0.49% to 1.2375 at 11:45 am CET.

Baha Breaking News (BBN) / VK