Pound Falls Further Amid Doubts About Britain’s Government & Brexit Talks

The pound has fallen further amid doubts about Theresa May’s ability to form a government and start the Brexit talks on time.

The British currency fell to a two-month low of $1.2659, from $1.2780 late Friday, after officials suggested both the announcement of the prime minister’s agenda and talks over Britain’s divorce from the European Union could be postponed.

The pound has dropped from $1.2950 before the result of the election, which left no party with a majority.

Investors are trying to gauge what impact the vote could have on the economy and the Brexit talks. Amid the uncertainty, they’re selling off the British currency as business leaders warn that the lack of clarity could hinder investments.

Source: Associated Press