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Pound slides to pre-election levels in wake of bid to outlaw Brexit extension

Sterling has lost two cents against both the euro and dollar amid City fears of no deal

The pound has given up the gains made since the general election after Boris Johnson said he would write Britain’s exit from the EU next year into law without an extension in the transition period.

Sterling tumbled by about two cents against the dollar and the euro on the international money markets, as the decision to enshrine time-limited Brexit negotiations into law caught investors by surprise.

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