Sterling falls to 27-month low amid no-deal Brexit concerns

British pound fell against US dollar on Tuesday, reaching its lowest level in more than two years amid lingering doubts about the UK's exit from the European Union with a deal.

Moreover, there is also doubt that Britain will quickly negotiate a trade deal with the United States before the country formally leaves the EU on October 31.

Bank of England President Mark Carney confirmed yesterday that the central bank can counteract any fallout from the no-deal Brexit such as a slowing British economic growth or inflation rising.

These concerns coincide with the resumption of trade talks between the US and China and Trump's comments that the road is still long before talking about the possibility of reaching an agreement.

In terms of trade, by 18:45 GMT, GBP/USD fell by 0.9% to 1.2405, the lowest level since April 2017, with a high of 1.2522 and a low of 1.2396.