The pound tanked on Tuesday morning, as reports emerged that Britain’s Prime Minister failed in talks with German chancellor Angela Merkel to discuss a trade deal post-Brexit.
The pound fell 0.7% against the euro, and 0.4% against the dollar. Sam Coates, deputy political editor at Sky News, was among British reporters citing an anonymous briefing by one of Johnson’s aides saying that “the call with Merkel showed the EU has adopted a new position. She made clear a deal is overwhelmingly unlikely and she thinks the EU has a veto on us leaving the customs union.”
