Possible No-Deal Brexit Causes Pound To Hit One-Year Low – 28 August, 2018

Investors fearing the prospect of a no-deal Brexit before the March 2019 deadline have caused the pound to drop against the euro to its lowest level in nearly a year. Sterling fell to 90.98 pence per euro, down 0.3 percent. Against the dollar, the pound was flat at $1.2893. Foreign exchange analysts predict the pound could slump to $1.20, a 7 percent drop from the current exchange rate, if no deal is reached.