3/5/2019, 4:38 PM (Source: TeleTrader)
more TeleTrader news

Pound lowest in 1 week as Brexit deal vote nears

The pound was in the red against major currencies on Tuesday, amid ongoing uncertainty regarding the withdrawal process of the United Kingdom from the European Union. Parliaments of Scotland and Wales are expected to urge the Prime Minister Theresa May to delay Brexit, while Finance Minister Philip Hammond stated that a no-deal Brexit is an "unlikely event." The vote on ruling out the unregulated withdrawal could possibly take place on March 13.

Earlier in the day, Washington said it will postpone further tariff hikes against China "until further notice." The two countries are reportedly close to reaching a comprehensive trade deal after almost three months of negotiations.

The sterling decreased by 0.49% against the dollar at 4:31 pm CET, selling for $1.31125, shortly after touching the lowest point since late Monday last week. Compared to the Canadian dollar, the UK currency sank 0.14% at 4:32 pm CET, buying 1.75133. It contracted similarly against the Japanese yen, 0.13% in the negative at 4:33 pm CET, changing hands for ¥146.97500.

Against the euro, the pound was almost flat, retreating 0.06% at 4:34 pm CET and going for €1.16106.

Baha Breaking News (BBN) / NI