Fears of a no-deal Brexit helped send sterling to its lowest level since April 2017 Chris Ratcliffe/Bloomberg via GettyThe pound fell to its lowest level for more than two years yesterday amid growing fears of a no-deal Brexit. It comes as Jean-Claude Juncker, president of the European Commission, insisted on Thursday that the EU would not renegotiate the withdrawal agreement with Boris Johnson. The news knocked sterling, which fell 0.7 per cent to $1.2374 yesterday, the lowest level since April 2017. Investors have been rattled by Mr Johnson’s appointment and they lack faith in his ability to renegotiate the withdrawal agreement. Their concerns are being amplified by his insistence that he will take Britain out of the EU on October 31, with or without a dealThe pound had already fallen to a 27-month low of $1.2382 last…

Source: The Times July 26, 2019 23:03 UTC