June 7, 2018 / 12:18 PM / 4 months ago

Sterling weakens versus euro, dollar ahead of Brexit 'backstop' proposals

LONDON (Reuters) - Sterling fell to a one-month low versus the euro as investors sold the British currency before the British government publishes its proposals for a “backstop” plan for the Irish border.

UK pound coins plunge into water in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic

The single currency rallied to its highest levels since early May against sterling at 88.37 pence.

Sterling also weakened against the dollar, reversing its earlier gains. In early afternoon trading, the British currency was down a quarter of a percent at $1.3375.

Reporting by Saikat Chatterjee; Editing by Tommy Wilkes

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