Immediately after PM, Theresa May delivered her statement today (Friday 21 September) on the reject of her Chequers plan, the pound fell 1% against the euro and 1.3% the US dollar.
May stated that: “In the meantime, we must and will continue the work of preparing ourselves for no deal.”
The chain reaction has now hit the exchange rate with the pound to euro currently is trading at €1.11, while the pound to dollar is trading at $1.31
The pound was steadily rising against the Euro this week hitting its highest rate since July 17 after what was expected to be good talks these with between the UK and EU Brexit negations and the retails sales had increased by 3.3% in August.
But this period of confidences was knock out completed after May’s Statement today sending the pound falling.
It also comes after The International Monetary Fund warned that Britain’s economy would be damaged by leaving the EU no matter what the agreement was reached but it would shrink without a Brexit deal.