Pound slips by 1.50% versus Euro and Dollar on Brexit developments

Sterling has been tumbling in Thursday’s European trading after two ministers resigned following a Cabinet meeting where Theresa May’s Brexit deal was laid out. Brexit Secretary Dominic Raab said: ‘I cannot in good conscience support the terms proposed for our deal with the EU.’ Esther McVey also resigned spurring concerns a chain reaction might take place with the potential for more Cabinet ministers to leave their posts.

The Pound could be particularly volatile in coming days as Brexit developments unfold. If you’d like to speak to a currency specialist about protecting your funds from further losses or how this might impact your transfer, contact your Dealer or call +44 (0)20 7989 0000. 

Current interbank rates (correct as of 11:50am):

GBP/USD – 1.2796

GBP/EUR – 1.1322

GBP/AUD – 1.7618

GBP/NZD – 1.8799

GBP/CAD – 1.6934