The once mighty British Pound is inching closer to parity against the Euro. Sterling traded at 92.49 pence overnight, marking an almost two-year low for the British currency.
The October 31st deadline for Brexit is looming ever larger in the financial horizon, and most people believe that Britain is now almost certain to leave the EU without a deal, a belief which is fuelling Sterling’s downward trend.
British PM Boris Johnson’s hardcore approach to a no-deal scenario is likely to bring the Pound-Euro exchange rate to almost parity by the end of the year.