Rising chance of no-deal Brexit weakens pound - News Summed Up

Rising chance of no-deal Brexit weakens pound


Boris Johnson has insisted that he would take Britain out of the EU with or without a deal by the end of October DAN KITWOOD/GETTY IMAGESThe pound dropped to a near-six-month low against the dollar and the euro yesterday as Boris Johnson edged closer to No 10, crystallising market fears of a no-deal Brexit or an early general election. Matt Hancock, the health secretary, who withdrew from the Conservative Party leadership race last week, backed Mr Johnson yesterday, saying that he would “almost certainly” become prime minister. Mr Johnson, 54, a leader of the Leave campaign in 2016, has promised to take Britain out of the European Union with or without a deal by October 31. As the odds shortened on the frontrunner, sterling sank by 0.3 per cent against the dollar to $1.2554, the lowest level since January. The pound was off 0.4 per cent against the euro at…


Source: The Times June 17, 2019 23:02 UTC



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