Pound plummets against dollar, euro Dread England faces no-deal Brexit

[Gergist]

The pound plummeted against the dollar and the euro today. Amid concerns that Britain could separate from the European Union (EU) without a no-deal Brexit.

At 8:50 PM ET, the pound slipped 0.91% to $ 1.317 and fell 0.83% to 0.920 against the euro.

Mr. Boris Johnson, British Prime Minister Said today that It is very likely that the UK will not be able to reach a trade agreement with the EU that will leave Britain from the EU without a deal.

Mr. Johnson said, The two sides remain at odds over the issue of fisheries and the EU's imposition of British sanctions. If the agreement is violated

Mr Johnson's statement was in line with EU executive chairman Ursula von der Lieen, who said there is now the possibility that both sides will not be able to. Reach an agreement rather than an agreement

Mr Johnson and Der Leyen set a deadline for talks on Sunday. If the two sides failed to reach an agreement before Jan. 1, 2021, Britain would lose trade privileges with the EU and force both sides to operate under World Trade Organization (WTO) rules. )

In addition, the no-deal Brexit will affect the British and European economies. And create a panic on the financial markets