British Pound Falls On Brexit Worries

Forex News

The British pound remains under strong pressure amid the next difficulties associated with Brexit and drops to the lowest level since July 3. The GBP/USD pair fell by 0.42% to trade at 1.3150 level. The British currency dropped following President Donald Trump's interview with The Sun newspaper in which he slams Prime Minister Theresa May's plans for Brexit.

On Thursday, May’s government published a plan that includes free trade in goods and a common trade rule book with the EU. Trump said such a deal “will probably kill” any prospect of a US-UK free-trade agreement. Boosting Transatlantic trade ties was one of Britain’s main goals for Trump’s first official visit to the UK as president.

Recently, Federal Reserve Chairman Jerome Powell said the economy is "in a good place," but that an escalation in tariffs between the United States and trading partners could affect that success. The politician did not address monetary policy and said he was uncertain as to the effects of the current trade disputes which has embroiled the US and its trading partners.