Sterling steadies on Wednesday
Publish Date : 2019/07/31 - 10:32

Reuters reported that Sterling steadies on Wednesday after four days of drop and gained 2% against the US dollar. But anyway, the currency is on the verge of its biggest monthly downturn since November 2016, as investors are involved in concerns over non-deal Brexit.

Pound is heavily influenced by Prime Minister Boris Johnson's comments, he has repeatedly stressed that Britain will leave the Union by October 31deadline, whether with or without an agreement.

The currency has fallen 4% this month and has fallen 8% since May following a no-deal scenario which had earlier been considered highly unlikely.

Pound touched 28-month lows and hit $1.2120 this week.

Economists are neutral about the current pound's conditions and believe that it is following Johnson's views until parliament reconvenes in September.

The currency could find moves after Johnson's meeting with Northern Ireland, whose borders are the main topic of British dialogue.

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