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Sterling hits 1-month low, heads for worst week in a year
October 6, 2017 / 8:35 AM / in 13 days

Sterling hits 1-month low, heads for worst week in a year

LONDON, Oct 6 (Reuters) - Sterling slipped to its lowest against the dollar in a month on Friday as it headed for its worst week in a year, amid growing worries over Theresa May’s future as British prime minister, as well as over the health of the economy.

The pound fell to as low as $1.3060 in morning trade in London, its weakest since Sept. 7 and down almost half a percent on the day.

Against the euro, it slipped 0.3 percent to a three-week low of 89.94 pence.

May reinforced markets’ doubts about her ability to govern effectively - and see off any leadership bids from rivals in her Cabinet - in a poorly-received keynote speech at the annual Conservative party conference on Wednesday.

Purchasing managers index (PMI) surveys this week pointed to tepid growth in Britain’s economy. (Reporting by Jemima Kelly, editing by Nigel Stephenson)

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