Pound hit as no-deal Brexit fears ramp up

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>The pound has plunged against the US dollar as fears over a no-deal Brexit intensified following the shock departure of the British government’s legal head&period;<&sol;p>&NewLine;<p><&excl;--Ads1--><&sol;p>&NewLine;<p>Sterling tumbled 1&period;6&percnt; to just over &dollar;1&period;30 – the lowest level for nearly a month and the steepest fall since the Black Monday falls seen in March&comma; according to experts&period;<&sol;p>&NewLine;<p>The pound was also down heavily against the euro&comma; falling 1&period;5&percnt; to €1&period;11&period;<br &sol;>&NewLine;It comes after Jonathan Jones&comma; the head of the UK government&&num;8217&semi;s legal department&comma; resigned amid reported anger over suggestions Boris Johnson is planning to override elements of the Brexit Withdrawal Agreement&period;<&sol;p>&NewLine;<blockquote><p>It looks like the wheels of the Brexit bus are finally falling off<&sol;p><&sol;blockquote>&NewLine;<p>His departure marks the latest in a string of resignations of top civil servants&period;<br &sol;>&NewLine;Experts warned the pound could be sent into freefall once again if the prime minister’s stand-off with the EU continues&period;<br &sol;>&NewLine;Sterling has enjoyed relative stability in recent months&comma; but worries over a deal have returned to haunt the pound as the latest round of trade deal negotiations between the UK and the EU got under way on Tuesday&period;<&sol;p>&NewLine;<p>Sterling also fell 0&period;9&percnt; against the dollar on Monday due to reports that Mr Johnson was looking to rewrite parts of the Withdrawal Agreement&period;<br &sol;>&NewLine;Sebastien Clements&comma; currency analyst at international payments company OFX&comma; said&colon; &OpenCurlyDoubleQuote;It looks like the wheels of the Brexit bus are finally falling off&period;”<&sol;p>&NewLine;<p><&excl;--Ads2--><&sol;p>&NewLine;<p>He added&colon; &OpenCurlyDoubleQuote;The pound has experienced its sharpest decline since March’s Black Monday against the US dollar – it’s once again plummeting towards the psychological 1&period;30 handle against the US dollar&comma; levels not seen in over a month&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The UK ministers now face an uphill battle with plenty of roadblocks continuing to slow things down&period;”<br &sol;>&NewLine;Small businesses are among those set to be hit hardest by the pound’s woes and the Brexit deadline&comma; as well as Government coronavirus support schemes coming to an end&comma; according to OFX&period;<&sol;p>&NewLine;<p>Mr Clements said&colon; &OpenCurlyDoubleQuote;The UK SMEs that we are working with are terrified that the end of the furlough scheme will coincide with a depreciating currency&comma; and European licensing woes&comma; with some forced to open European entities in order to keep trading with the bloc&period;”<&sol;p>&NewLine;<p><&excl;--Ads3--><&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed133b350c9">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; 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