Pounds falls against dollar amid no-confidence vote rumors

EPA-EFE / SHAHZAIB AKBER

The British pound traded in the red against the dollar on Tuesday following reports that the 48-letter threshold to trigger a no-confidence vote in Prime Minister Theresa May has been reached.

The alleged move to challenge May's leadership comes after her decision to postpone the parliamentary vote on her Brexit deal with Brussels. She is currently Brussels meeting with European Council President Donald Tusk in an effort to seek last-minute changes to the withdrawal agreement.

Sterling lost 0.47% against the greenback at 5:47 pm CET, buying 1.2499, its lowest since April 2017, while it traded flat versus the euro at the same time, going for 1.1058.

Baha Breaking News (BBN) / JC