Pound Tumbles To Fresh Multiyear Lows As 'No Deal' Brexit Fears Intensify

As fears of a 'no deal' Brexit intensify, the British pound tumbled on Tuesday to its weakest level against the dollar since April 2017, falling 0.8% - its biggest intraday drop since March - to $1.2419.

GBP

The pound has been weakening steadily as the Tory leadership race has progressed, amid fears that the frontrunner, Boris Johnson, has vowed to leave the EU on Oct. 31 with or without a deal.