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Sterling Extends Fall to 20-Day Low versus Euro
Tuesday, 12 May 2020 23:05 WIB | CURRENCIES |PoundsterlingSterling,pound

Sterling extended Monday's losses on Tuesday, hitting a 20-day low versus the euro, as continued confusion over government plans to ease lockdown measures, the worst COVID-19 death toll in Europe and revived Brexit risks all weighed on the pound.

Britain extended its job retention scheme, in which the government pays 80% of furloughed workers' wages, by another four months until the end of October.

The announcement did little to move the pound, which is the worst-performing G10 currency so far this month, held down by concerns about the government™s handling of the crisis.

The pound extended Monday's losses against both the dollar and the euro. Versus the dollar, it was last at $1.2314, down 0.2% from New York's close. Against a stronger euro, the pound fell to its lowest since April 22 and was last down around 0.7% at 88.228 pence.

Source : Reuters

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