Pound suffers further slide after Boris Johnson takes Brexit hard line – business live
Rolling coverage of business, economics and markets as the pound hits new 28-month low against the US dollar
Boris Johnson’s financial markets welcoming party has delivered another blow this morning, sending sterling to fresh lows.
When campaigning for the Conservative leadership, the new prime minister made it very clear that he intended to leave the EU on 31 October with or without a deal. Markets appeared not to believe him; they now appear to have caught up.
We can’t accept the backstop, it was thrown out three times, the withdrawal agreement as it stands is dead and everybody gets that. But there is ample scope to do a new deal and a better deal.
On the bright side, the pound sterling is not the worst performing currency in the world today. That accolade goes to the Madagascan Ariary. The pound, on the other hand, is only the second-worst performing currency in the entire world pic.twitter.com/bwJLNID8Ho