In the international currency markets, the United Kingdom's pound fell to a new 31-year low against the dollar, today. The pound dipped to 1.277 dollars–its lowest level against the greenback since June 1985, and almost 15 percent weaker than before the EU referendum on 23 June. The pound has been under pressure since UK government announced, on Sunday, that it will trigger the process of leaving the European Union by the end of March 2017. Britain's Prime Minister Theresa May told her Conservative party, that she was determined to move on with Brexit, in an effort to ease fears inside her party that she may delay the split with the European Union. Investors are also concerned that Britain appears to be on track to leave the EU single market, as it places a priority on restricting immigration into the UK.
News On AIR | October 4, 2016 1:37 PM
U.K's pound fell to new 31-year low against dollar