Mexican Media Brands
British Currency Slides to 28-Month Low on Brexit Fears
Fears about terms of the U.K.’s departure from the European Union have cut the value of the British pound against the dollar and euro to 28-month lows.
#labor #economics
Share
Fears about terms of the U.K.’s departure from the European Union have cut the value of the British pound against the dollar and euro to 28-month lows of $1.22 and €1.10.
The decline comes as the government of new Prime Minister Boris Johnson prepares for a “no-deal” Brexit at the end of October. Johnson has taken a hard line on the ext, declaring the deal worked out by former PM Theresa May as “dead.”
Johnson hopes to extract a better last-minute arrangement from the European Union. But he also has repeatedly stated that the U.K. will leave the EU deal or no deal.
The pound sterling has been on a trending lower against the U.S. dollar for 15 months from $1.42 in early April 2018. Analysts predicts further weakening as Brexit approaches.
RELATED CONTENT
-
Transit Unions Brace for Autonomous Future
Warning that autonomous vehicles could eliminate as many as 3 million jobs in the U.S., the Transportation Trades Dept. (TTD) is calling on Congress to implement a number of measures to minimize the impact on the workforce and address potential safety concerns of such vehicles.
-
UAW Calls Meeting to Discuss GM Contract Talks
The United Auto Workers union has summoned its 175-member General Motors Council for a meeting in Detroit on Thursday about the union’s month-old GM strike.
-
VW Workers Again Reject UAW at Tennessee Plant
Hourly workers at Volkswagen AG’s assembly plant in Chattanooga, Tenn., have again voted against having the United Auto Workers union represent them.