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Renewed Brexit Tensions Cause Sterling Slump

Renewed Brexit Tensions Cause Sterling Slump

The pound could lose value over the next few days according to market analysts, although where it ends the week will likely rest with the outcome of Thursday’s briefing from the European Central Bank.

Sterling edged lower yesterday with some concerns over the risk of renewed Brexit tensions as the UK government is expected to announce further delays to some of the customs regulations on goods entering Northern Ireland. The pound drifted to lows around 1.3830 against the dollar later in the session with a tentative net Euro gain of 1.1670.

Markets will also be monitoring any announcements made by Prime Minister Johnson on tax increases to fund social care programmes. 

 

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