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FILE PHOTO: Pound Sterling banknotes and coins are seen in a cash register at a café in Manchester, Great Britain, on September 21, 2018 in London. REUTERS / Phil Noble
LONDON (Reuters) – The British pound fell on Tuesday to a six-month low against the euro, after a debate between the two candidates vying to become the next British prime minister, who worries about the situation. A Brexit without agreement.
Both favorites Boris Johnson and rival Jeremy Hunt said Monday that they would not be willing to accept the so-called Northern Irish backing of Theresa May's agreement on Brexit, which is one of the best of the main demands of Brussels in the Brexit negotiations.
Chart: Weighted sterling pound since the Brexit vote – tmsnrt.rs/2hwV9Hv
The backstop is an insurance policy intended to prevent the return of a hard border between Ireland, an EU member, and the British province of Northern Ireland.
Brexit's nervousness, coupled with recent poor British economic data, kept the pound close to its lowest level in years.
The British currency weakened 0.4% on Tuesday to 1.2463 dollar, a lower level in six days. If it falls below $ 1.2439, it will fall to its lowest level in more than two years, excluding the "crash flash" of January 3, falling to $ 1.2409.
Against the euro, it fell 0.3% to reach a low of 90.225 pence, its lowest level since 11 January.
Operators are waiting for British employment data at 0830 GMT, which will be closely monitored for signs of a further deterioration of the economic situation. According to a poll by economists at Reuters, average weekly earnings are expected to grow 3.1% year-over-year during the quarter ended May, posting the same growth as the same period.
Chart: Global exchange rates in 2019 – tmsnrt.rs/2egbfVh
Reportage by Olga Cotaga; Edited by Tommy Wilkes
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