Sterling slides below US$1.29 as Brexit sell-off worsens

Disabled woman asked to leave train because of her mobility scooter                
         
           Video

British Pound Sterling banknotes are seen at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017.

Sterling was down against the euro, dollar yen and Swiss franc, suggesting the negative sentiment was broad.

The GBP/USD is trading at the lowest level since August 31 a year ago as the United Kingdom cabinet said it will meet in September to prepare plans for a no-deal Brexit scenario.

The pound fell on Monday after minister for global trade Liam Fox said there was a 60 per cent chance the United Kingdom would leave the EU without a deal, putting the blame on "intransigence" from the European Commission.

Over the past week, Bank of England (BoE) Governor Mark Carney has expressed concern about the rising likelihood of a "no deal" Brexit, and United Kingdom officials have noted that negotiations may be headed in that direction too.

The pound also fell below US$1.29 for the first time since August 31 2017. Few saw the increase as a vote of confidence in the economy with so much political uncertainty ahead.

Mourinho's tactics get Man United off to the ideal start
I think one defensive mistake and probably the linesman could help him and give a free-kick against Leicester. For me, it was a dream come true.

The return of the UK GDP growth rate to a rising trajectory from near zero growth previously in combination with recent reports of the European Union preparing the set of Brexit concessions for the UK Prime Minister Theresa May are both set to ease the selling pressure off Sterling after falling as low as 1.2841 earlier on Thursday.

The Euro (EUR) has remained relatively stable recently, leaving its exchange rates at the mercy of developments overseas, and the European Central Bank's (ECB) latest economic bulletin this morning served to highlight the Eurozone's economic trajectory.

The Pound Euro (GBP/EUR) exchange rate remains close to its worst levels in a year, reflecting the fact that a no-deal Brexit is seemingly a distinct possibility. The pound has lost more than 10 percent since April and is down nearly 15 percent since the Brexit Referendum in June 2016.

A lull in domestic data has meant that the Pound cannot gain any traction, but an assortment of data tomorrow, including quarterly GDP growth, could give Sterling a sorely-needed lift.

After an initial uptick to 1.2960 level, the GBP/USD pair met with some fresh supply and dropped to fresh eleven-month lows in the last hour.

Puts are an option to sell an asset and calls the right to buy an asset.

Related:

  • Torchlight Frontiers Bringing Back ARPG Series

    Torchlight Frontiers Bringing Back ARPG Series

    Details about the game are scarce at the moment, but it will continue to exist in the same universe as its predecessors. While there are few details about Torchlight Frontiers at the moment, we do know there will be a beta.
    Actress Sean Young wanted for questioning in burglary

    Actress Sean Young wanted for questioning in burglary

    In 2012, she was arrested for allegedly slapping a security guard at an Oscars after-party, according to Page Six . Sean Young attends the premiere of TNT's " The Alienist " at iPic Cinema, Jan. 16, 2018, in New York City .
    Tiger Woods is in hunt but laments one hole that got away

    Tiger Woods is in hunt but laments one hole that got away

    Woods struggled early in his first round with a couple bogies. "He's got a great head on his shoulders", Furyk said. Lowry was three under par for the first ten holes of his second round when play was suspended by rain yesterday.
  • Sarri learns lessons from Chelsea's opening win at Huddersfield

    Sarri learns lessons from Chelsea's opening win at Huddersfield

    Laurent Depoitre had Town's best chance in the second half but he shot wildly over after being teed up by Florent Hadergjonaj. Kante volleyed the Blues ahead on 34 minutes after neat approach play from Pedro and Willian .
    Trump praises Mexico, threatens Canada with auto tariffs

    Trump praises Mexico, threatens Canada with auto tariffs

    Some observers have raised concerns about Canada's absence from recent high-level negotiations on the three-country trade deal. Asked if he could finish the U.S. -Mexico issues on Friday, Guajardo said "I don't think today but we are very close".
    Paul Pogba Appointed Manchester United's Captain By Jose Mourinho

    Paul Pogba Appointed Manchester United's Captain By Jose Mourinho

    He added: "The thinking is he is a very good penalty taker and likes the responsibility of it and he is first choice". Claude Puel, the visiting manager, said: "It was a shame to concede this goal at the beginning of the game.
  • Islamic Scholar Ma'ruf Amin Becomes Jokowi's Running Mate in 2019 Election

    Islamic Scholar Ma'ruf Amin Becomes Jokowi's Running Mate in 2019 Election

    Widodo attended the National Election Commission headquarters with Amin and other allied political leaders, The Jakarta Post reported.
    Trump's new tariffs on Turkey are actually benefiting Russian Federation

    Trump's new tariffs on Turkey are actually benefiting Russian Federation

    Erdogan has been putting pressure on Turkey's central bank to not raise interest rates in order to keep fueling economic growth. It comes as US President Donald Trump doubled tariffs on Turkish steel and aluminium, further hurting the lira .

    Man steals aircraft from Seattle airport, fighter jet scrambled

    Royal King told The Seattle Times he was photographing a wedding when he saw the low-flying turboprop being chased by to F-15s. No passengers were onboard during the incident and normal operations have resumed at the airfield, the airport said on Twitter.
  • UMd. head coach placed on leave

    UMd. head coach placed on leave

    August 3, 2018: Practice officially starts and, according to sources, the culture of bullying, led by Court, continues. Court had been in the same position at Mississippi State prior to being hired at Maryland .
    Chelsea give Sarri flawless  Premier League start at Huddersfield

    Chelsea give Sarri flawless Premier League start at Huddersfield

    One of the reasons why Chelsea splurged quite so much money was the goalkeeper's ability with his feet. It depends on the characteristics of the Premier League and of my players. "I don't know.
    Mourinho Labels Manchester United Midfield General As

    Mourinho Labels Manchester United Midfield General As "Monster"!

    Nuno Espirito Santo hailed the character of his Wolves team after they battled back to draw with Everton . In football you need time to work and players on the pitch to work and we didn't have that until now.

Comments

Latest news

Trump Calls Omarosa a ‘Lowlife’ in Response to Book Claims
She acknowledges she had never been able to obtain or hear the tapes but said three unnamed sources had described their contents. Mr Trump was sworn in using two Bibles; his own and one used at Abraham Lincoln's inauguration in 1861.

Jarrod Lyle Dead - Pro Golfer Passes Away at 36
His family announced in late July that he had opted not to seek further treatment and would receive palliative care at home. The 12-time US Tour victor has only bettered Thursday's driving display once, during the 2006 Barracuda Championship.

Pep Guardiola expects Manchester City to face tougher title race
Emery has faced Guardiola on 10 occasions in the past and has failed to win one game , losing six and drawing the other four. Thus, he is definitely a huge threat for the Manchester City defence, likely to be led by English worldwide John Stones.

Govt to phase-out single-use plastic bags
New Zealand has become the latest country to ban single-use plastic bags in an effort to tackle plastic pollution. Some retailers have begun implement their bans.

Authorities probe how airline employee could steal plane
He flew it for an hour, followed by two armed F-15 jets from OR that the military scrambled , before he crashed. Pastor said at the press conference that there was no sign that it was a terrorist attack.

Parker Solar Probe Mission Launches to Touch the Sun
The spacecraft, which will plunge into the sun's atmosphere, known as the corona, is protected by an ultra-powerful heat shield. A Delta-IV heavy rocket carrying the probe took off from Cape Canaveral, Florida at around 07.31 GMT on Sunday morning.

Rogers Cup: Sloane Stephens too strong for Svitolina
Making the finals here is incredible. "She's the world No1 for a reason but I'm just going to go out there and try to get her". The Ukrainian even got a service break to close the gap to 5-3, but Stephens broke right back to take the set.

Ullrich arrested for attack on prostitute
Jan Ullrich , who won the Tour de France in 1997, was arrested after an alleged attak on an escort in Frankfurt. In 2013, he admitted to doping , having been served a two-year ban by sporting regulators.

Rogers Cup: Johanna Konta beats Victoria Azarenka to move into third round
Svitolina assisted Buzarnescu before the medics eventually appeared and escorted her away from the court. She held her nerve to serve out the match, claiming a 6-3 6-4 win after 85 minutes on court.

Japan economy returns to black after first dip in two years
Japan's economy expanded at an annualized rate of 1.9 percent in the April-June quarter, government data showed Friday. On a quarter-on-quarter basis, GDP grew 0.5 per cent, versus the median estimate for a 0.3 per cent increase.

DC, Charlottesville on edge as white nationalists prepare to rally
Northam declared a state of emergency in advance, allowing Charlottesville to have a heavy police presence. The violence led to the death of 32-year-old counter protester Heather Heyer who was struck by a vehicle .

Harry Kane's Premier League Record In The Month Of August Is Shocking
Diame was unfortunate not to level within two minutes of the restart when his stinging left-foot shot came back off the post. Alli's goal marked the second season in a row in which the midfielder has scored in the opening game.

'Suicidal' man steals and crashes empty plane from Seattle airport
Only the unidentified pilot was on the plane, according to authorities. "Nah, I mean, I don't need that much help". Ferry traffic to and from Ketron Island was limited to investigators and emergency responders this morning.

Anderson`s fifer knocks India out for 107 in Lord`s Test
But it was new-ball partner Mohammed Shami who made the breakthrough when Keaton Jennings (11) was lbw playing across the line. But Kuldeep rarely troubled Bairstow, who cover-drove him for four to complete a 76-ball fifty featuring seven boundaries.

NCAA makes big changes regarding NBA Draft - KVOA | KVOA.com | Tucson, Arizona
And no, UTEP wouldn't have had Vince Hunter if this policy was in place before the 2015 season, despite him not being drafted. According to the Associated Press, Division 1 programs must provide scholarships for players who return to school.

Other news