Monday began with woes for the British Pound Sterling against the U.S. dollar. It witnessed a one and half month low against the greenback due to the fears of no-deal Brexit.
On the other hand, traders are still looking forward to the ruling party for the successor of Japan’s ailing PM Shinzo Abe, who recently put his papers down following his health concerns.
Interestingly, it went up slightly in the Asian market ( $1.2819) compared to its abysmal performance on Friday ($1.2767). That was its lowest since July 24. Notably, the British currency has already lost four per cent this month. Among G10 nations, it’s the worst-performing currency.
Even against Euro, Pound skidded to the low of five and a half months (92.90 pence/Euro). The last it stood at was 92.39.
The pound is gripped by fears that the U.K. might end post-Brexit transition period without any trade.