UPDATE 4-Pound claws back some falls but holds near 4-mth low as PM May's exit eyed [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Pound claws back some falls but holds near four-month low as PM May's exit eyed - Reuters 4 Min Read LONDON (Reuters) - Sterling fell on Wednesday and was on track for its longest ever losing streak against the euro though it recouped some of its earlier falls in reaction to a Sky News report that Prime Minister Theresa May was about to resign. The currency had earlier plumbed four-month lows against the dollar, falling as much as 0.6% at one point as it became clear that May’s last-ditch Brexit plan had failed to win over either opposition lawmakers or many in her own party. With the plan appearing dead in the water, some traders said they saw a rising chance of Britain leaving the European Union without a transition deal to smooth economic disruption. The pound touched a low of $1.2625, its lowest since mid-January, and weakened 0.25% against the euro to 88.05 pence. It clawed back some losses after Sky News cited a lawmaker as saying May would resign later on Wednesday.. “(May leav
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