The value of the once mighty British Pound has sunk to a 28-month low, trading at $1.2131 and €1.0890 yesterday.
Markets have reacted badly to the renewed concerns about a no-deal Brexit raised by the newly appointed British PM Boris Johnson, a firm backer of it.
Mr. Johnson has already sparked anger among British farmers by claiming that they will ‘thrive’ in a post no-deal Brexit, due to new trade agreements, etc.
But such comments have been met with widespread opposition by farming groups in Wales, where Mr. Johnson is due to travel today for an official engagement. Welsh farmer associations have in fact stated that a no-deal scenario would be ‘catastrophic’ for the industry.
