The pound sterling tumbled against major currencies on Friday, driven by renewed fears surrounding the economic consequences of the UK’s departure from the European Union. Investors are increasingly concerned about the lack of clarity regarding the future trade relationship between the UK and the EU.

Market Reaction

The currency’s decline reflects the market’s heightened sensitivity to any news related to Brexit. Analysts suggest that the pound’s vulnerability stems from the ongoing uncertainty and the potential for further economic disruption.

Key Factors Contributing to the Decline:

• Lack of progress in Brexit negotiations
• Concerns about the impact on UK businesses
• Increased risk aversion among investors

The pound’s performance is expected to remain volatile in the coming weeks as Brexit negotiations continue. Market participants will be closely monitoring any developments that could impact the UK’s economic outlook.