Nine straight days of losses against the euro in May took the pound to a 3-month low of €1.143, and similar losses against the US dollar meant quotes in the low $1.28s — also a 3-month low.
Sterling weakness has returned following a breakdown in the UK of cross-party Brexit talks, which has brought “no deal” back to life.
It seems nothing much has changed: PM Theresa May has announced that she will ask the House of Commons to vote again on her withdrawal deal in early June (the deal has already been rejected three times).
A fourth defeat for May’s plan is widely expected and would make no-deal much realer, with little time to organize any alternative before the October-31 exit date (unlikely to be extended). It remains possible, however, that Brexit is cancelled entirely.
For more GBP bank forecasts details and cross-rate trends read GBP Forecasts.
GBP in the News
The Australian dollar is now worth only 68.6¢ after another week of heavy losses, and now one senior analyst has predicted exchange rates in the “mid-60s” this year – rates not seen since 2009.
Posted: 18 May, 2019
The British pound fell on Wednesday towards a 3-month low against the euro and US dollar as attention turned back to Brexit and after lower-than-expected wage growth lessened prospects for a Bank of England rate hike.
Last update: 15 May, 2019
Latest FX Provider Reviews
Get a Better FX Deal when you Send and Spend Abroad.