18:22 GMT +319 September 2017
Live
    A cashier displays multiple denomination US dollar and British pound Sterling bank notes

    UK National Currency Hits 31-Year Low Against US Dollar

    © AFP 2017/ NIKLAS HALLE'N
    Europe
    Get short URL
    0 10732

    The British pound slumped to $1.2067 the lowest level in over three decades, according to local media.

    MOSCOW (Sputnik) — The British pound’s exchange rate against the US dollar fell to the lowest level in over three decades ahead of US President-elect Donald Trump’s press conference on Wednesday, UK media reported.

    The pound sterling slumped to as low as $1.2067, according to market figures. The Independent newspaper estimated it last traded that low 31 years ago, excluding October’s "flash crash."

    The press conference is being held only nine days before Trump is formally inaugurated as US president on January 20. It is his first press meeting in 5.5 months since late July, when the main presidential campaign between him and Democratic challenger Hillary Clinton had just begun.

    Related:

    Pound Sterling Tumbles Again as UK Businesses Weigh Brexit Losses
    Over 5,500 UK Restaurants May Go Under in Next Three Years Due to Weak Pound
    Pound Instability 'Biggest Trade Issue' for Ireland - Dublin Lord Mayor
    'Yes' to Brexit Sees Pound Sterling Dive 20% Down in Value
    Tags:
    pound sterling, US dollar, United Kingdom
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment