The pound falls below $1.30 after Carney warns of ‘uncomfortably high’ no deal Brexit risk

Hannelore Foerster/Getty

• The pound dropped below 1.30 against the dollar on Friday morning.
• The fall came after Bank of England Governor Mark Carney said there was an “uncomfortably high” chance that Britain will leave the EU without a deal.
• The Bank of England ran an economic simulation of what might happen after a no deal Brexit. It suggested the UK would fall into a recession and interest rates and unemployment would soar.
• You can track the pound’s movements live at Markets Insider.

LONDON — The pound fell below $ 1.30 against the dollar on Friday morning after Bank of England Governor Mark Carney said there was an “uncomfortably high” chance that Britain will leave the EU without a deal.

“The possibility of a no deal at the moment is uncomfortably high. It is highly undesirable, parties should do all things to avoid it,” Carney said during an interview on BBC Radio 4’s Today Programme.

See the rest of the story at Business Insider

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See Also:

• Bank of England hikes rates for the 2nd time since the financial crisis
• ‘The easiest call in 25 years’: Mark Carney says the Bank of England got everything about Brexit right — and warns that no deal will be bad
• Here’s what a no deal Brexit would mean for the British economy

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