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Pound Falls as Brexit Tensions Rise, Conservative Lead Narrows

  • Theresa May’s lead drops as opposition Labour climbs in polls
  • Brexit Secretary Davis threatens that U.K. will quit EU talks
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U.K. Party Leaders Slam May's 'Extreme' Brexit

The pound fell below $1.30 after the U.K. hardened its Brexit rhetoric and polls predicted a narrower-than-expected win for Prime Minister Theresa May in June elections.

Sterling weakened against all its major peers as the latest Opinium Research survey showed the opposition Labour Party cutting May’s Conservative Party lead to 13 points from 15 points a week earlier. A YouGov survey in the Sunday Times put Jeremy Corbyn’s party nine points behind, the first time it has had a single-digit gap since September. The British currency also declined after Brexit Secretary David Davis said the U.K. will quit talks with the European Union if the bill for exiting the bloc exceeds 100 billion euros ($112 billion).