Pound falls

  • Sterling dropped to a three-month low of $1.2821 this morning and headed for its longest losing streak against the euro since 2000 as the risk of a no-deal Brexit flared up again.
  • The main opposition Labour Party said it wouldn’t back Prime Minister Theresa May’s latest attempt to get her withdrawal agreement through Parliament, even as she faces more leadership challenges from within her own party.
  • Meanwhile, there are further signs that companies in the U.K. are suffering from the continued uncertainty.

(Source: Bloomberg)