GBP this week

GBP dipped this Monday when concerns about Brexit made the forecast for the currency unclear.

Pound Sterling dropped 3.4% against USD in May 2018 which is the biggest monthly decrease since 2016. This was due the deficiency of the United Kingdom and the recently established tariffs imposed by the United States effected the currency.

The pound started strong on Monday at a high of $1.3398 due to the stronger than expected data on the Britain’s construction sector, but later the fell back down to $1.3305. Experts believe this to be due to the spurt of news having to do with Brexit’s and Britain’s future with the EU.