Brexit fears drag pound to fresh two-year low ahead of UK inflation report – business live

Rolling coverage of the latest economic and financial news, as fears of a disorderly Brexit weigh on sterling

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

The pound is under the cosh this morning as another bout of Brexit jitters grip the financial markets.

Fears over the chance of a no deal exit weighing on the Pound. Sterling plunged to lows last traded more than two years ago as it broke below 1.2400 briefly.

Related: Pound hits two-year low as City fears of no-deal Brexit intensify

With markets still underestimating a hard Brexit and a potentially dovish Bank of England the Pound will remain extremely vulnerable in a dynamic shift to a ‘no-deal’ stance from Brussels before the autumn.

“A Boris Johnson proposal to scrap the Irish backstop has a high chance of being rejected and not seen by the EU as a good reason. And then the UK risks stepping off into the unknown of a no-deal Brexit on Halloween.”

FINANCIAL TIMES: Sterling plunges to 2 year low on mounting risk of no deal Brexit #tomorrowspaperstoday

Related: UK living standards hit by rising prices and weak wage growth

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