Pressure Mounts on Pound as Hard-Brexit View Back in Spotlight
- Sterling approaches weakest level versus euro in three years
- Pound ‘not being rewarded by markets,’ says CIBC’s Stretch
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The pound approached its weakest level in three years versus the euro amid speculation that support in government is building for a so-called hard Brexit.
Sterling dropped versus most of its Group-of-10 peers amid concerns that the U.K. would surrender access to the European Union’s single market in return for securing control over immigration and being exempt from paying into the bloc’s budget.