Sterling Falls As No-Deal Brexit Looks More Likely – 28 August, 2019

The British pound fell to its lowest in almost a week after Queen Elizabeth gave the green light to Prime Minister Boris Johnson to suspend parliament, making it harder for lawmakers to try and stop a no deal Brexit. The currency fell to as low as $1.2156 as parliament will be suspended in September, with the Queen’s planned speech on October 14 to launch a new legislation. Global market researchers are predicting sterling may fall as low as $1.2015, with a no-deal Brexit looking more likely. The pound was trading 0.6% lower, falling 0.4% against the euro to 90.6 pence after hitting a week low of 91.265 pence.