Usd to euros exchange: Pound / Euro Rate in Fresh Dip below 1.09, EU and UK Officials Yet to Budge on ‘Red Lines’

“The 1.9% depreciation of Sterling versus the Euro, and 2.4% drop versus the U.S. Dollar, since 22 July – the day before Johnson became PM – reflects the markets’ increased worries about a hard Brexit on 31 October. The drop partly reflects the market’s belief that a hard Brexit would be an act of economic vandalism that could tip the UK into a recession and lower the UK’s long-run growth potential,” adds Kallum Pickering, an economist with Berenberg Bank in London.

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