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Britain Prime Minister Boris Johnson promised on Tuesday to lead Britain out of the European Union on Oct. 31 “no matter what” as sterling tumbled and Ireland warned that the bloc would not be renegotiating the thrice defeated divorce deal.
The British pound fell on Tuesday as investors bet Johnson’s Brexit brinkmanship could trigger a messy divorce that would sow chaos through the world economy and financial markets.
Sterling crashed through trading barriers, falling to an intraday low of $1.2120 in shallower overnight Asian trade, the lowest since March 2017. The pound has lost 3.6 cents since Johnson was named Britain’s new prime minister a week ago.
“The prime minister made clear that the UK will be leaving the EU on October 31, no matter what,” Johnson’s Downing Street office said in a statement about a phone call with Irish PM Leo Varadkar.
Johnson demanded again that one of the most hotly contested elements of the Brexit divorce agreement – the Irish border backstop – would have to be struck out if there was to be a deal.
