Trading at yearly lows to the Dollar, just above $1.25, the Pound is under pressure.
Another would be potential Tory leader and future Prime Minister pulled out from the race and vowed to support Boris Johnson, as the next leader of the party and country.
In the meantime, Mr Johnson keeps repeating that a no deal Brexit will occur on the 31st October unless the EU agrees to his demands. This is worrying for the markets; a no deal scenario is widely seen as the most negative scenario for the economy. That is the reason why investors are turning their backs to Sterling, causing a depreciation in relation to other currencies.
Photo by John Cameron.