Sterling slumps on Brexit no-deal fears

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The British Pound has slumped to an 11 month against the Dollar following comments from UK Secretary of State Liam Fox over the weekend that there is a “60-40 chance” of a no-deal Brexit.

This gloom and doom could compound to Bank of England governor Mark Carney’s warning last week that the odds of a no-deal Brexit are “uncomfortably high”. With the GBPUSD tumbling below the 1.2950 level, the downside momentum could inspire bears to attack the Pound and potentially send the currency below 1.2900.

There are a couple of additional factors that could ensure Sterling remains pressured in… Read More

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