Pound: John Goldie and Currency

pound: In a sign of growing fears for the economy, the pound dropped by about half a cent against the single currency to trade at 1.115, while also falling by a similar amount against the US dollar, to 1.22, according to The Guardian. John Goldie, a dealer at the currency trader Argentex, said The market is pricing in that risk to a greater degree again. With weeks left before the 31 October Brexit deadline, sterling came under selling pressure on the foreign exchanges on Tuesday, sliding to its lowest point against both the euro and the dollar since early September, after negotiations took an acrimonious turn. The pound has lost ground against all the major currencies over the course of the day so far only the Canadian dollar has performed worse in the last week. The pound does not like the tone of all this. Sterling slid on the international money markets after a No 10 source said Angela Merkel was making a deal impossible and Brussels accused Boris Johnson of trying to play a stupid blame game . Neil Wilson of the financial trading company Markets said We are now heading towards the revoke versus no deal showdown. (news.financializer.com). As reported in the news.