The British pound on Tuesday languished near this year's low on rising worr...
TOKYO - The British pound on Tuesday languished near this year’s low on rising worries Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a dreaded no-deal Brexit.
The yen and the euro were steadier, with investors holding out for trading clues from policy-setting meetings by the U.S. Federal Reserve and the Bank of Japan as well as a conference organised by the European Central Bank, all scheduled this week. Worries about Brexit hit the British pound, which tumbled to a 5-1/2-month low of $1.2532 on Monday and last traded at $1.2539.
That rattled markets as Johnson, the face of the official campaign to leave the European Union in the 2016 referendum, has promised to lead the United Kingdom out of the EU with or without a deal. Markets are pricing in about 50% chance of another rate cut next month by the Reserve Bank of Australia, which delivered its first easing in almost three years just two weeks ago.The dollar was slightly undermined by the New York Fed’s business index showing a record fall this month to its weakest level in more than 2-1/2 years.
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