Pound at four-month lows as political clouds gather [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Pound at four-month lows as political clouds gather - Reuters 3 Min Read LONDON (Reuters) - Sterling fell below $1.27 for the first time since mid-January, battered by dollar strength and growing fears that UK Prime Minister Theresa May will fail to persuade cabinet colleagues to back an amended version of her EU withdrawal deal. Brexit uncertainty has grown in recent weeks after the breakdown of talks between May and the opposition Labour party. That has set the stage for the thrice-rejected fail to fail again if, as planned, it is put to vote in parliament next month. Also weighing on the pound in recent weeks has been a firmer dollar, which has benefited from an escalation in trade tensions between Washington and Beijing. Rejection of the deal yet again would likely pave the way for May to be replaced by a more hardline eurosceptic Tory, possibly Boris Johnson. The Times newspaper quoted a senior source as saying the government was prepared for resignations after the cabinet meetin
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