GBP/USD Slides for Third Day After New UK PM Takes Office
The British pound extended its decline for a third consecutive session, falling 0.17% on Monday after initially approaching 1.3500 before dropping to just above 1.3400 in New York trading.
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Sterling weakened against the dollar on Monday, marking a third straight daily fall as markets digest the arrival of a new UK prime minister.
GBP/USD traded down approximately 0.17% during the session. The pair faded from a London morning high near 1.3500 to probe just above the 1.3400 handle in New York, before steadying around that level.
The move extends a slide that began shortly after the new premier took office, with the currency losing ground against the greenback in each of the past three days.
Source: FXStreet Forex News