BRITAIN: Pound Continues Slide Over No-Deal Brexit

The Independent reports:

The pound fell again on Friday after shock figures revealed UK economy shrunk for the first time since 2012 as the country lurches closer to recession and a calamitous no-deal Brexit.

Sterling was down 0.3 per cent against both the dollar and the euro on the back of news that GDP unexpectedly contracted 0.2 per cent in the April-June quarter.

The weak pound would normally be expected to boost exports but Britain’s manufacturers but output from the sector plunged, official data shows.

“Pound parity” is when it reaches $1.