If the pound sterling’s poor show against the US dollar and euro is anything to go by, Boris Johnson’s no quarter attitude to the UK leaving the EU with or without a deal come October, an approach that’s increasingly referred to as a “BoJo Brexit”, could harm the once powerful currency even more.
When markets closed yesterday it was sitting at a two-year low of $1.22 for every pound, having lost 1.24% to the Greenback.
It also shed 1.34% to the euro, trading at €1.09.
And as Johnson was on a visit to Wales where he was shearing sheep in front of flashing cameras and promising farmers they would be better off out of the EU, despite the possible ramifications of a no-deal departure, the Conservative Party leader in Scotland made it clear that they were not interested in a BoJo Brexit.
On the eve of feting her new boss in Edinburgh, Ruth Davidson said that Scotland’s farming community was extremely concerned about the effect a no-deal Brexit could have on their trade with the EU.
In the meantime issues over the Irish border north of the Republic of Ireland also remain unresolved. The EU has told Johnson that if he wants a clear severing of ties with the common market no soft border will be allowed.
They say it’s quite simple – you’re either in or out.
And as the prospect of a hard Brexit seems more and more likely, the pound indices against the dollar and euro were still trending down.
The pound was even struggling against the reeling rand with an exchange rate of R17.27 recorded this morning.
