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Sterling falls as worries on Brexit climb, yen strengthens

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17:50 15-10-2018
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 The dollar firmed against the pound and euro on Monday as unsuccessful British efforts to secure a Brexit deal ahead of a key European Union summit reinforced global investors’ preference for safe haven currencies, Reuters reports.

The euro traded around 0.13 percent lower at 1.1546 on Monday, while the sterling lost 0.36 percent to 1.3106 after hitting an October high of 1.3258 on Friday.

The dollar index, a gauge of its value against six major peers, was up 0.13 percent at 95.349.

The problem of Britain’s land border with Ireland has thwarted a drive to clinch a Brexit deal, as negotiators over the weekend admitted defeat after marathon talks and pressed pause for the coming days.

The pound is also under pressure after former foreign minister Boris Johnson’s comments in a newspaper column on Sunday that Britain must stand up to bullies in the European Union and press for a “super Canada” deal.