Sterling hit a four-month low on Friday after cross-party Brexit talks collapsed and concern grew about the impact Prime Minister Theresa May’s likely resignation would have on Britain’s EU divorce. The pound has traded in a narrow range of $1.29-1.32 since Brexit was delayed in late March,
British car output almost halved in April as factories imposed shutdowns in the face of Brexit uncertainty and other sector-wide headwinds, industry data showed Thursday.
European Commission President Jean-Claude Juncker said on Wednesday it was unlikely the European Union would reach any decision on Brexit at this week’s summit in Brussels.
British Prime Minister Theresa May on Saturday mulled a possible fourth attempt to get her Brexit agreement through parliament, faced with the growing risk of a chaotic no-deal exit in less than two weeks’ time.
As the United Kingdom's three-year Brexit crisis spins towards its finale, it is still uncertain how, when or even if it will leave the European Union, though May hopes to bring her deal back to parliament later this week.
"It is with great regret that I have had to conclude that as things stand, there is still not sufficient support in the House to bring back the deal for a third meaningful vote," May told the House of Commons.
At risk of losing control of the process of leaving the European Union, the leader announced she would resign if parliament finally backed her withdrawal agreement.
The former London mayor took office on Wednesday and swept out more than half the ministers who served Theresa May in the difficult closing months of her premiership.
Johnson, who officially took over from Theresa May on Wednesday and swiftly sacked most of her ministerial team, held the first meeting of his new cabinet of ministers on Thursday.