The pound reached fresh two-year lows against the dollar this morning due to another spell of Brexit fears. It has weakened against both the euro and the greenback after both Boris Johnson and Jeremy Hunt vowed to ditch the Irish backstop, making no-deal more of a possibility. Concerns over Johnson potentially shutting down Parliament before October 31st have also proved to be a worry.
Yesterday it transpired that the pound was the worst performing major currency in the world over the past 24 hours, over the past month, over the past three months and over the past year.
The markets will look to inflation rate figures which are released this morning. Yesterday, the UK unemployment rate stood at 3.8 percent in the three months to May 2019, its lowest level since the October to December 1974 period and in line with market expectations.
