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Sterling Slumps As The Boris Brexit Plan Shocks The Market
Sterling slumped to a 28-month low against the United States dollar as the government of Boris Johnson increased the rhetoric on Brexit suggesting a “no deal” is increasingly likely. At 19:31 BST (14:31 Eastern) the level of Sterling Dollar (GBPUSD) had fallen to 1.2226, a decline of 1.25% on the day. Given GBPUSD closed on June 22, 2016 (the day before the EU referendum) at 1.4708 when the U.K. voted to leave the EU, Sterling has declined by 16.88% against the U.S. dollar since then. To emphasis the point, since Johnson became prime minister on July 24, Sterling is the worst-performing currency in the world. ... (full story)
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