Sterling takes another pounding after EU officials play down the prospect of a Brexit deal
The pound shed as much as 0.9 per cent yesterday as EU officials played down the prospect of a Brexit deal breakthrough
Sterling lost some of its lustre yesterday amid concerns that a Brexit deal is still some way off.
Investors piled into the pound last week as it seemed that Boris Johnson was closing in on a deal with the EU following talks with his Irish counterpart Leo Varadkar.
That was enough to drive up sterling more than 4 per cent against the dollar over Thursday and Friday, the biggest two-day rise since the financial crisis.
But the pound shed as much as 0.9 per cent yesterday, falling as low as $1.25, as EU officials played down the prospect of a breakthrough in the coming days.
The FTSE 100 also shed 0.5 per cent, falling 33.63 points, to 7213.45.