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The pound sterling is falling against the dollar on Theresa May’s statements

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The pound sterling is falling against the dollar on Theresa May’s statements

The pound sterling is falling against the dollar on Theresa May’s statements
October 03
16:00 2016

The pound sterling continues to fall against the dollar, having updated the minimum level since June.

This is happening against the statements of the British Prime Minister Theresa May about the term of the United Kingdom withdrawal from the European Union.

The British pound sterling exchange rate has fallen against the US dollar to 1.2875 dollars per pound in the middle of Monday. In the recent past this currency pair reached a level of 1.2845 dollars per pound. This has been a minimum figure since June 2016.

The dollar has fallen to 101.32 yen (the previous value was101.33 yen per dollar). The euro has fallen to $1.1240 while $1.1239 was the previous value.

At the weekend Prime Minister Theresa May made a statement that the United Kingdom was going to refer to Article 50 of the Lisbon Treaty regarding the withdrawal from the European Union before the end of March next year. It should be noted that about 52% of the country’s citizens voted for the withdrawal from the European Union at the referendum, which was held in June 2016.

Reuters news agency quotes Rabobank experts: “Today the fall of the pound cost reflects investors’ concerns.”

In addition, the statistical data from the United States can affect the session on Monday: the American Institute for Supply Management is going to publish a report on the business activity index in the US industrial sector. According to experts, the September value has increased to 50.3% from the August level of 49.4%.

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