Home Business News Sterling slips again amid Brexit worries

Sterling slips again amid Brexit worries

16th May 18 3:04 pm

UK government expected to release a white paper shortly

Sterling fell back towards its lowest point of the year against the dollar today — down 0.25 per cent at $1.3474— amid Brexit negotiations and relatively modest UK wage growth. The pound also slipped against the euro to 87.735 pence.

In an attempt to break the deadlock in Brexit negotiations, the UK government is due to release a white paper establishing its official stance on Brexit shortly. It is expected to include a plan for a customs relationship that avoids re-establishing a hard Irish border.

Brexit secretary David Davis said the document would be the “most significant” publication on the EU since the referendum as “it will communicate our ambition for the UK’s future relationship with the EU, in the context of our vision for the UK’s future role in the world.”

BBC’s Political Editor Laura Kuenssberg also added: ‘Whether it’s aviation, medicines, the law, fishing, agriculture, the City, the list goes on and on – the Brexit department and other departments have got only a few weeks now to agree what to put into black and white.’

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