Pound falls to lowest level in 27 months amid no-deal panic

Currency sinks after both Tory leadership hopefuls declare backstop ‘dead’

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Sterling could since in a no deal Brexit
(Image credit: Matt Cardy/Getty Images)

Sterling sank to its lowest level against the US dollar in 27 months yesterday, amid escalating anxiety over a no-deal Brexit.

The currency fell to $1.2420 soon before midday, its weakest point since April 2017. Then, in the afternoon it tumbled through the $1.24 mark. It also slipped to a fresh six-month low against the euro, at €1.107.

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