Rebecca Wayman

Theresa May's wish to extend Brexit prompts currency drop

Following the UK’s appeal to delay Brexit, the value of sterling has fallen on to great concern.

Leaving without a deal is said to be more likely, and the British Chambers of Commerce said it was out of order that the government hasn’t come to an agreement on exiting the EU.

Theresa May wishes to move the leaving date to June 30, 2019. This evidently triggered currency traders, as the pound has fallen by around one per cent - it has otherwise been rising recently.

The Prime Minister believed she had no other option than to ask for a Brexit extension from Brussels, which goes beyond the initial exit date of next Friday (March 29).

May is in hot water yet again with Brexit plans. Today (March 21), she is plastered across national newspapers exclaiming that this huge delay should be blamed on MPs, and not herself

Against the Euro, sterling has fallen one per cent. It sits at around 86.39p, said to be the lowest since March 12.

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