author: andriev   2 August 2019Print page

Sterling is on the edge of a break-down

brexit sterling euro bettingAssignment of Boris Johnson has been a roller-coaster for the UK. As No Deal Brexit seems to be a more possible option, the UK economy is already responding to a matter.

The official UK currency pound sterling has hit the “rock bottom” recently. The fresh two-year low of $1.2120 against the US dollar and even crazier €1.0881 against the fellow Euro was shown this week. Experts say that all of that is due to the No Deal Brexit that can severely affect the economy.

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Not wasting any time, one of the top online bookmakers has offered odds on Sterling/Euro parity before the end of a year. Just to compare, the chances of a pound levelling up with euro were 5.00 (4/1) in February, which got slashed on Tuesday to 2.63 (13/8) after the rumours of No Deal Brexit being the primary course of government's actions. With all the things happening right now the odds got cut to 2.25 (5/4) by the Wednesday morning. All aside, Sterling was worth 1.73 Euros back in 2000.

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