19:14 GMT +320 September 2018
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    Financial Limbo for Pound Sterling Amid Brexit Oblivion

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    The British currency stays and will remain in limbo until the UK presents a clear Brexit strategy that outlines the future of the economy and the trade relationship with the EU, financial analysts suggest.

    The pound sterling rose on June 6 with the dollar getting weaker — from a 2018 high of more than $1.43 in April to below $1.33.

    Sterling rose 0.2 percent to $1.3417 but fell 0.2 percent against the European Union currency to 87.645 on June 5.

    MUFG — the Japan-based global financial services giant, have reportedly said they "remain sceptical over pound gains on positive macro news until we have clarity from the government on Brexit."

    On June 4, UK business leaders have expressed the urgent need for "clarity and certainty, because time is running out," while the conditions on which Britain leaves the bloc and potentially the EU single market are still obscure.  

    READ MORE: Business Leaders Ask May for Clarity on UK-EU Trade Relations After Brexit

    The EU summit on June 28-29 is meant to clarify the terms of Britain's exit from the bloc, as the UK is due to leave the EU on March 29, 2019. 

    Related:

    Business Leaders Ask May for Clarity on UK-EU Trade Relations After Brexit
    UK's EU Withdrawal and Italy's Political Turmoil Pose 'Economic Risks' – OECD
    UK Government is 'Trying to Frustrate the Wishes of the People' – British MEP
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    EU single market, euro, business, currency, trade, Brexit, United Kingdom
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