Pound nosedives on renewed no-deal Brexit fears
The pound fell sharply on Tuesday, as Boris Johnson’s move to block further Brexit delays sent shockwaves through the currency market.
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The pound fell sharply on Tuesday, as Boris Johnson’s move to block further Brexit delays sent shockwaves through the currency market.
The pound initially got off to a strong start to the week as markets continued to take encouragement from the result of the general election.
After soaring in response to the Conservative’s decisive election victory the pound quickly began shedding ground through Friday’s session.
The pound edged away from a multi-year high at the end of last week as investors engaged in some profit taking.
The pound surged overnight, hitting a three-year high against the euro and an over one-year high against the US dollar.
Pre-election jitters failed to knock the pound off its positive footing yesterday, even as opinion polls pointed towards a narrower Conservative lead.
The pound has been catapulted higher over the past month, striking its best levels since March in response to rising bets that the Conservatives will
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