Great British pound slides in value amid renewed Brexit worries

Economy & Politics | Latest News

The Great British pound has slid in value against the US dollar amid renewed worries surrounding the ongoing issue of Brexit.

The political turbulence around Brexit has seen sterling slip more than a cent to less than $1.29, after a three-week high of $1.31, which was experienced last Wednesday.

On Friday, sterling slid after transport minister Jo Johnson resigned from his post after describing Prime Minister Theresa May’s Brexit deal “a terrible mistake”, all the while asking for a second referendum.

He said: “The choice being presented to the British people is no choice at all.”

Sterling has been gripped by volatility amid uncertainty about whether the UK will leave the EU next March without a trade deal in place.

The UK is rapidly approaching 21 November, by when Brexit secretary Dominic Raab said he expected a deal to be finalised.

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