Pound Swings After Johnson Lays Down No-Deal Gauntlet to the EU
- Currency falls 0.3%, erasing gains of as high as 0.4%
- Von der Leyen says team will go to London to ‘intensify’ talks
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The pound fluctuated between gains and losses after U.K. Prime Minister Boris Johnson said the nation was heading towards no deal with the European Union, while still holding out room for more negotiations this year.
Sterling erased gains of as much as 0.4%, to fall 0.3%, before rising again to $1.2923 as of 3:18 p.m. in London. Government bonds extended their advance, sending the yield on 10-year securities down as much as three basis points to 0.15%. EU Commission President Ursula von der Leyen said that a team would go to London to “intensify” talks.