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Sterling extends slide below $1.25 as no-deal Brexit jitters jump

Reuters - UK Focus
Updated

LONDON, July 16 (Reuters) - Sterling skidded to levels last traded in April 2017 on Tuesday, as investors worried the next British prime minister would take the country on a course towards a no-deal Brexit.

Eurosceptic politician Boris Johnson and his rival Jeremy Hunt, who are vying to be Britain's new prime minister, both sought to burnish their Brexiteer credentials in a political debate late on Monday, reviving fears of a no-deal Brexit among traders.

Sterling dropped 0.9% to $1.2409, its weakest since April 2017. The pound also weakened to new a six-month low versus the euro of 90.42 pence, down 0.5% on the day. (Reporting by Olga Cotaga Editing by Tommy Wilkes)