Sterling continues to be battered by Brexit uncertainty falling yesterday to £1=€1.10809, the weakest against the euro since early September. The fall came in response to a decision to delay a vote in the UK parliament, which would either ratify or reject the current Brexit agreement. The Prime Minister addressed the postponement, saying that currently the deal would have been rejected “by a significant margin”.
The possibility of a no deal Brexit still seems to loom large at the moment and yesterday only increased uncertainty. According to AHDB, Brexit uncertainty will continue to drive volatility in the pound and the likelihood is that this will not change until the method by which we exit the EU becomes clear.