British Pound Falls to 31-Year Low on Brexit Concerns
In late trading Tuesday in New York, the pound fell to $1.2729. On Sunday, U.K. Prime Minister Theresa May set a March 2017 deadline for the country to begin the process of exiting the European Union and indicated that controlling immigration would be a higher priority than maintaining its privileged access to its largest trading partner.
The pound sterling has dropped 14% against the dollar and 13% against the euro since the June 23 Brexit vote.
(Photo: Accura Media Group)