Yahoo Finance Sterling slides amid fears Theresa May will be ousted over Brexit
The pound hit a seven-month low against the dollar earlier as the Prime Minister faced another nail-biting parliamentary clash in her attempt to steer Brexit legislation through the House of Commons.
Sterling was off 0.22 cent at $1.3150 amid concerns that defeat in Theresa May’s attempt to prevent MPs having a “meaningful vote” on a deal could see her ousted over the summer.
“The big question going into the crunch vote is if May loses, will it be the end of her time as PM?” said London Capital Group’s Jasper Lawler.
The currency also weakened ahead of the Bank of England’s latest interest-rates decision tomorrow.
Many commentators expect Threadneedle Street to offer up hints that the temporary slowdown seen at the start of the year could be more long-lasting, and move on rates in November rather than August.
The pound’s weakness was good for shares, however, pushing up the value of the FTSE 100’s internationally focused companies and lifting the index by 81.10 points to 7684.99.
