Pound extends losses against dollar, euro
The British pound continued its decline against the United States dollar and the euro on Thursday as traders seemingly remained concerned about the United Kingdom government's strong commitment to a low tax policy and the country's economic prospects if London sticks to those plans.
The greenback could have also been boosted by a renewed appetite for safe haven assets, as US stocks stood in the negative territory in the early portion of the trading session in New York.
The UK currency tumbled 1.32% against the dollar, going for 1.11746 at 5:17 pm CET. The euro gained 0.75% compared to the sterling, trading at 0.87920 a minute later.