# Pound sinks to 28-month low on Brexit fears

> Sterling dipped 1.1% to $1.2242 and fell to its lowest level against the dollar since the Article 50 process began in March 2017. The drop followed the UK government toughening its rhetoric on a no-deal Brexit, which Michael Gove said was now a very real prospect. ING analysts said the pound could fall further, toward $1.18.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/58362-pound-sinks-to-28-month-low-on-brexit-fears
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Currency weakness in sterling tightens UK import costs and adds to broad dollar-strength pressure on commodity-linked currencies. For feed buyers the direct price impact is limited.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/business-49156403

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