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29th July 2019
Sterling under pressure as no-deal Brexit risk heightens

Sterling has fallen around 1.2 per cent against developed market peers today as markets perceive the risk of no-deal Brexit increasing following Prime Minister Boris Johnson's victory last week and his governments subsequent public dialogue on the subject. Whilst markets speculate if threatening to leave the EU without a deal is just posturing in preparation of attempting to renegotiate a deal with the EU, the currency continues to be volatile and has now fallen to the level last seen when the previous Prime Minister, Theresa May, triggered article 50 in March 2017. In response to the weakening currency, the internationally focused FTSE 100 index has rallied strongly today as oversees earnings swell, leaving the index up around 2 per cent on the day