Sterling Plummets After UK Attorney General Says Legal Risks Of Brexit Unchanged

The pound fell sharply against USD falling over 1% after Britain’s Attorney General Geoffrey Cox said the legal risks to the United Kingdom of the Brexit backstop remained unchanged despite assurances from the European Union.

GBP fell 0.7 percent to a day’s low of 1.3041. It had been as high as 1.3290 earlier in the session on hopes British Prime Minister May would eventually secure a deal before Brexit in less than three weeks.

The pound also fell sharply against the euro, falling by one percent to the day’s low of 1.1583.