The pound has hit a 3-month low against the euro and a 7.5-month low against the US dollar. There are fears in the market that the pound could drop lower as the pressures weighing on sterling continue to mount.
Deputy Governor of the Bank of England Jon Cunliffe expressed his concerns over the impact of household debt. This follows on from a warning earlier in the week from business leaders in the US, Canada, Japan and India that failure to solve the Brexit issue could put more than £100bn worth of trade at risk.
Analysts will be watching the Brexit talks happening today and tomorrow very closely for an indication that a disorderly departure from the EU may be avoided. In the meantime, with so much uncertainty on the home front or in the world trade arena, there seems no let up on the pressure on the pound.
We will continue to monitor the market closely and keep you updated on any changes.
ARTICLE, courtesy of: The moneycorp team