# Pound Plunges Against Dollar, BOE Warns Further Drop on No-Deal Brexit - Business Insider

> The pound plunged against the dollar after the Bank of England held rates but cut UK GDP growth forecasts to 1.3% for 2019 and 2020. The central bank warned sterling could fall further in a no-deal Brexit and put the odds of recession by early 2020 at one in three.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/57846-pound-plunges-against-dollar-boe-warns-further-drop-on-no-deal-brexit-business
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The BoE warning and the no-deal risk point to further sterling weakness, raising the cost of dollar-priced feed imports for UK buyers.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- businessinsider.com: https://www.businessinsider.com/pound-plunges-against-dollar-fed-signals-rate-cut-one-off-2019-8

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.