Brexit Takes Toll on Pound’s Share of Global Transactions

(Bloomberg) --

The pound lost popularity in May as the debate over the U.K.’s departure from the European Union weighed on the currency. Its use in global trade transactions slid to 6.7%, the lowest level since August 2011, according to the Society for Worldwide Interbank Financial Telecommunication, or Swift. Sterling is the third most used currency, trailing the U.S. dollar’s 40% share and the euro’s 34%.

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To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Sheldon Reback

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