No-deal fear pushes pound to a record low

Pound Slips to Lowest Since November Versus Euro on No-Deal Fear

The pound fell today, slumping below US$1.29 for the first time in nearly a year, in a selloff fuelled by investor concern that Britain will crash out of the European Union without a trade deal.

Euro and pound banknotes are seen in front of BREXIT letters in this picture illustration taken April 28, 2017.

Should the pound experience similar losses today, this could see the pound USA dollar exchange rate on track to touch a fresh one-year low by the end of the trading session.

Washington and Beijing announced tit-for-tat tariffs on $16bn worth of goods on Wednesday, edging the two sides closer to a potential trade war and driving traders towards United States dollar in an effort to protect themselves from any fallout. The pound is headed for its worst weekly performance since February.

Fawad Razaqzada, a market analyst at Forex.com, said the data released should "cause a spike in pound volatility".

"We continue to recommend GBP downside until the political impasse is behind us", analysts at Nomura said, forecasting a sterling/dollar at $1.27 and below.

Svitolina grounds Konta to keep title defense on course
Svitolina will now go on to face either Elise Mertens or Aryna Sabalenka. Last year, Svitolina won the canadian Premier 5, winning in Toronto.

Greek teen Stefanos Tsitsipas reaches Toronto final
The win over world No 3 Zverev looked unlikely when the 19-year-old dropped the first set and fell behind 2-5 in the second. Nadal got caught on the back foot in the first set against Cilic, who took the opener on his fourth chance.

News Corp loses $1.4bn as paid subscriptions get a boost
At the end of June, Foxtel had about 2.8 million subscribers, higher than a year ago mainly due to the launch of Foxtel Now. In Australia the ad revenue decline was more pronounced at 6%.

Investors appear to view a no-deal Brexit as a growing possibility, especially after Britain's Trade Minister Liam Fox suggested over the weekend that the likelihood of a no-deal outcome is as high as 60 per cent.

"If the figures are overall weaker than expected then the pound could resume its slide", he said.

The pound is also down 0.58% against the euro and down 0.86% against the Japanese yen.

Sterling and United Kingdom government bonds will fall further in the run-up to Brexit, even after the pound slumped this week to its lowest in nearly a year, prominent Brexit-supporting British hedge fund manager Crispin Odey said on Thursday.

Mrs May wants to clarify her plans before an European Union leaders' summit in June and to seal a deal on Britain's new relationship with the European Union in October, less than six months before Brexit.

Traders are now preparing for Friday's reading of second-quarter British economic growth numbers to give the pound some possible relief.

Related News:



Most liked

I fear being fined if I speak out, says Pogba
Pogba played a key part in France's successful World Cup campaign and was therefore allowed to miss most of United's pre-season. We have to wait until the end of November to understand if we can fight for the title". "It's a different team, obviously".

U.S. airline worker steals plane, takes it for flight before crashing it
The plane crashed either while the man was doing stunts or because of a lack of flying skills, according to the Sheriff's Office. On a walk near Chambers Bay Golf Course, Derek Funk and his girlfriend, Lesley Gordon, heard the aircraft before they saw them.

All-hands search for Marine who went overboard near Philippines
The Marine's family has been notified, but the service is withholding his or her identification while the search is ongoing. The US 13th Marine Expeditionary Unit said a member, who was not named, may have gone overboard Thursday morning.

Actress Sean Young wanted for questioning in NYC burglary
The items are said to be worth about $12,000 (£9,400). "Drew" in 2011 in which she discussed her battles with alcohol. She infamously ambushed Tim Burton in the '90s, hoping to be cast as Catwoman (the role went to Michelle Pfeiffer).

England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook
Play resumed with England , 1-0 up in a five-match series after their 31-run win at Edgbston last week, yet to bat. Together with Jonny Bairstow , Woakes soon set about turning that around.

Kanye West Supports President Trump, Says "Liberals Can't Bully Me"
Bush hated Black people, but absolutely doubt the current occupant in the WH cares about us at all . The reality TV queen recently paid a trip to the White House to meet The Donald face-to-face.

Koepka takes 2-shot lead at PGA Championship
He was at 3-over par for the second round through nine holes and 4 over for the tournament, putting him in a tie for 111th. American Gary Woodland was leading the field with a daunting clubhouse total of -10 but there were birdies to be had.

UMD football coach placed on leave following abuse allegations
ESPN revealed the scary details surrounding McNair's death, which led Maryland to place several staffers on leave. McNair's parents hired a Baltimore law firm to also investigate.

[Listen] Kanye West Raps About Masturbating To His Sister-In-Laws Photos
I got more of 'em. "We can diffuse this nuclear bomb of hate that we're in as a society by thinking of everyone as our family". Kanye West has said something for shock value very much on goal so that people turn around and say "That Kanye West ".

Victor Moses revels in 'great' Chelsea start against Huddersfield Town
Huddersfield boss David Wagner accepted his side were roundly outplayed, highlighting defensive errors as contributing to a heavy home loss.

Scientists concerned about endangered orca still pushing body of her calf
In addition, since J35 has just given birth, she "may have extra lipid stores built up" that were preparing her body for nursing. They also observed this touching behaviour in one pod of whales with the corpse of a male adult who may have died after a fight.

Hibernian's John McGinn in transfer talks with Aston Villa
The Hoops, who have had three bids rejected for the Scotland global midfielder, have matched the Championship side's £2.75million offer.

Unseeded Alize Cornet upsets Wimbledon champ Angelique Kerber at Rogers Cup
It was Cornet's second consecutive victory over Kerber, the last of which also came on the hard court in Beijing past year . But at the end this is tennis: "every tournament starts from zero", Kerber said. "I knew I had a tough match ahead of me".

Monster Hunter World Gets Steam Workshop Support for Mods
Earlier this year, Monster Hunter World was released on PlayStation 4 and Xbox One to both critical and financial acclaim. If you are interested in purchasing Monster Hunter: World , it is now going for $59.99.

Mourinho: Wait to see if Man Utd can contend
Pochettino added: "I am happy to keep all the squad together, there were many rumours during the summer about players out. The World Cup-winning Frenchman opened the scoring as early as in the third minute from the spot.