Sterling slumps as leaked plan stokes no-deal Brexit fears

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Pound falls against the dollar and euro on fears government will override agreement with EU

The pound has slumped as investors bet on the growing likelihood of Britain leaving the Brexit transition period at the end of December without a deal, amid reports that Boris Johnson’s government is preparing to override the EU withdrawal agreement signed with Brussels in January.

Sterling fell about 1% against the US dollar on Monday to trade below $1.32, and fell by a similar amount against the euro to below €1.12 on the international currency markets.

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