The pound has dropped more than 0.82 per cent against the dollar to $1.2868 as uncertainty over the Brexit deal continues. Against the euro, the pound is trading at €1.1414.

Andy Bruce

@BruceReuters

Ropey start for the pound today, down 1% against the dollar, below $1.29

The downward trend began on Friday when transport minister Jo Johnson resigned warning that Britain was standing “on the brink of the greatest crisis” since the second world war. Prime Minister Theresa May continues to face the threat of further resignations from several pro-EU ministers over the Brexit deal.

With “persistent Brexit uncertainty and the financial squeeze on consumers and businesses likely to weigh increasingly on economic activity in the coming quarters”, Suren Thiru of the British Chambers of Commerce also told media.

On a separate note, European Commission president Jean-Claude Juncker, however, told media on Sunday that a deal between the UK and the EU would be concluded: “in the next coming weeks”.

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