Pound fell to its 2-year lowest level as fears over a “Hard Brexit” and a possible general election.
“We expect GBP can fall even further, even quicker from here, and all because the truth is dawning: we are headed to No Deal and we are about to get a new Prime Minister with an entirely new way of managing the process,” Helen Thomas, CEO of the consultancy Blonde Money in Oxford
It is said that Boris Johnson, the possible Prime Minister, is looking to call a general election. Johnson has already pledged to take Britain out of the EU in October 31.
The pound fell nearly 1% on Tuesday against the dollar and continued its decline on Wednesday. It was having fallen below $1.24 for the first time since April 2017. It was also lower against the euro, at 1.1047, its lowest since September 2017.