Talking points

Issue of the week: Boris and business Britain’s likely new PM will take office at a perilous moment. Will Johnson be equal to the task? The risk that Britain could exit the EU in a disorderly fashion, with no agreement or transition period, has been with us for a while, said Swaha Pattanaik on Reuters Breakingviews. But “investors have so far assigned a fairly low probability to it”. This week, however, the mood darkened. The competition between Boris Johnson and Jeremy Hunt to take ever harder stances on Brexit-at-all-costs by the end of October sent sterling falling to 27-month lows against the dollar (around $1.24) in expectation of economic havoc, and of lower interest rates to ease the pain. Options prices show that investors are “bracing for further declines” in the pound.…

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The Week United Kingdom (Digital) - 1 Issue, V. 1236

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