British Pound Falls On Boris Related Brexit Fears, UK Rate Cut Risk

The British pound has slumped further in value against the dollar on worries that the UK is more likely to leave the European Union. Foreign exchange dealers do not like the uncertainty which was added to by London’s Mayor Boris Johnson saying he will campaign for a Brexit. He joins a number of senior members of…

"Mayor of London Boris Johnson confirms he will campaign for the United Kingdom to leave the European Union" (Sky News, 2/21/2016).

The British Pound (GBP/USD) hit a low of 1.4057 on the news. It is currently trading at 1.4144. Here is the long-term trend with 2009 support..