Pound sinks to six-week low as fears mount over collapse of Brexit trade talks

Pound sinks to six-week low against the US dollar as fears mount over collapse of post-Brexit trade talks

By James Tapsfield, Political Editor For Mailonline

Published: 15:03 BST, 9 September 2020 | Updated: 15:03 BST, 9 September 2020

View
comments

The pound slid today amid mounting fears that Boris Johnson’s plans to tear up the Brexit divorce deal could torpedo trade talks.

Sterling slumped to its lowest level against the US dollar since July, hitting a value of just under 1.29.

It was also 1.7 per cent lower against the euro at 1.10 as markets took fright at claims that the government is ready to break international law.

Currency experts said the pound was also taking a hit amid concerns the worsening Brexit negotiations could see further action from the Bank of England. 

Sterling slipped lower against both the US dollar (top chart) and euro (bottom) as fears mounted over the prospects for a trade deal

Sterling slipped lower against both the US dollar (top chart) and euro (bottom) as fears mounted over the prospects for a trade deal

Boris Johnson (pictured at PMQs today) insisted he was doing his 'duty' today as he faced a Tory mutiny for threatening to renege on the Brexit divorce deal

Boris Johnson (pictured at PMQs today) insisted he was doing his 'duty' today as he faced a Tory mutiny for threatening to renege on the Brexit divorce deal

The PM insisted he was doing his 'duty' today as he faced a Tory mutiny for threatening to renege on the Brexit divorce deal.

Legislation published this afternoon would unilaterally decide details that Brussels insists must be settled by a joint committee, including customs arrangements between mainland Britain and Northern Ireland.  

Northern Ireland Secretary Brandon Lewis sparked outrage yesterday by bluntly admitting that the measures will breach international law. 

European commission president Ursula von der Leyen has warned that the move will undermine 'prosperous future relations'.

PREV Biker gets clocked speeding down Georgia highway at 178mph - and police don't ...
NEXT Four Navy aircrew parachute to safety moments before E-2C Hawkeye plane crashes ...