Pound Gains Succumb to Brexit Plan Worries as Carney Boost Fades
- German government said to see May’s Brexit plan as unworkable
- Pound earlier lifted as Carney signaled higher rates likely
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The pound erased an earlier advance to slip as Chancellor Angela Merkel’s government is said to see the U.K.’s Brexit customs plan as unworkable.
Sterling fell to the day’s low of $1.3205 on the news, which may undermine Prime Minister Theresa May’s proposal on how customs will operate ahead of a meeting with her own cabinet to agree a strategy. The pound had earlier climbed as Bank of England Governor Mark Carney said the U.K. economy is supporting the case for higher rates.