Sterling’s outlook lost some of its luster in the previous month after uncertainty surrounding Britain’s departure from the European Union was expanded and current data has emphasized a struggling economy, a news agency poll found.
It has been a long years since Britain astounded much of the world and voted to leave the EU however it is still vague how, when or even though it will ever leave the club it joined in 1973.
Following the June 2016 public vote the pound dropped, as was forecast in a news agency polls before the vote. It was trading about $1.30 on Thursday, much weaker than the $1.50 rate before the choice to leave the EU.
Prime Minister Theresa May trigger off Article 50, signaling Britain's wish to left the EU, in March 2017 and set her a two-year window until exit date.
After failing to get the UK parliament to back her Withdrawal Contract in time for the original March 29 departure date May a month ago secured a new Brexit deadline of October 31.
However that delay has left buyers, businesses, investors and market speculators in midpoint as they still don't know in what terms the two sides will part ways – whereas a news agency poll a month ago said they will finally reach a free trade deal.