February 28, 2018 / 12:03 PM / a year ago

Sterling skids as EU's Barnier says transition not a given

LONDON, Feb 28 (Reuters) - Sterling skidded to a two-week low against the dollar on Wednesday, after the European Union’s chief Brexit negotiatior Michel Barnier said a transition deal was not a given.

The British currency, already down on the day, extended losses to trade more than half a percent lower at $1.3830 , its weakest since Feb. 14, as Barnier said talks on a post-Brexit transition period had confirmed “significant divergences”, and that Birtian must “pick up the pace” of talks if it wants a deal this year.

Against the euro, sterling hit the day’s lows, trading down 0.4 percent at 88.23 pence, (Reporting by Saikat Chatterjee Editing by Jemima Kelly)

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