Following comments by Donald Trump suggesting that the Brexit deal might affect trade with the US, the pound fell to a low of 1.274 against the dollar.

The US President said on Tuesday the withdrawal agreement “sounds like a great deal for the EU” and may, therefore, mean that the UK and US might not carry out any trade deals.

“Right now if you look at the deal, [the UK] may not be able to trade with us. And that wouldn’t be a good thing. I don’t think they meant that” he said outside the White House.

The government has insisted that the UK will be able to carry out deals with countries around the world.

Connor Campbell from SpreadEx said: “The pound remained shaken by Trump’s suggestion that Theresa May’s Brexit deal was so favourable to the EU that it might prevent the UK from being able to trade with the US. Against the dollar it dropped half a percent, leaving cable lurking around $1.275, while against the euro it was down 0.4%, sitting just under €1.126.”

Theresa May is taking part in a two-week bid in order to persuade MPs and the British public that her Brexit deal is the right way forward.

Earlier this week, the director of the Confederation of Business Industry (CBI) has that businesses in Northern Ireland will not be able to cope with a no-deal Brexit and were, therefore, backing the current agreement.

Angela McGowan said that leaving the EU without a deal is not an option and “no country in the world will want to invest in Northern Ireland if it is thrown out of Europe.”

Many have warned to vote against the deal, with the DUP’s Arlene Foster accusing the prime minister of “giving up” on getting a better deal.

MPs will vote on the deal in December.