Monday, 12 August 2019
The uncertainty around Brexit continues to depress the British pound, which plunged to 1.0724 euro, its lowest rate in almost 10 years, on Sunday night.
The rate improved a bit on Monday, rising to 1.08 euro.
The pound’s lowest exchange rate thus far, 1.02 euro, dates back to 2008.
The British currency also lost ground to the U.S. dollar, sinking to US$1.2015, its lowest rate since early 2017.
The pound has been under pressure since Boris Johnson took over as Prime Minister. Investors see a no-deal as increasingly likely and fear that it will hurt Britain’s economy.
The Brussels Times