GBP Tumbles on No-deal Brexit Rhetoric, US-China Talks Kick Off

The pound fell off the cliff yesterday as UK politicians, including the new PM Boris Johnson, ramped up rhetoric over a no-deal Brexit, prompting investors to increase bets with regards to such an outcome. In Japan, the BoJ kept its policy and forward guidance unchanged, noting that it “will not hesitate to take additional easing measures”. Market attention may now fall to the new round of US-China trade negotiations, which ends tomorrow.

Pound Collapses as Fears of No-deal Brexit Increase