![LONDON, ENGLAND - JULY 30: A man walks past a bureau de change on Oxford Street as British Pound Sterling has slumped to a 28-month low on July 30, 2019 in London, England. Sterling dropped below $1.23 against the US dollar and fell sharply against the euro to below 1.10 on the international currency markets on Monday, as cabinet ministers began meetings to prepare for a no-deal Brexit. (Photo by Chris J Ratcliffe/Getty Images)](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/HPPRYW5CCURNVN6TAWZKVEGZKI.jpg?smart=true&auth=474b55f65961b828d61f76aba73d78847397a4fa38d420145445a2b152bacf5a&width=400&height=225)
A man walks past a bureau de change on Oxford Street as pound sterling has slumped to a 30-month low. Getty Images
A man walks past a bureau de change on Oxford Street as pound sterling has slumped to a 30-month low. Getty Images
British pound slumps to 30-month low as fears of a no-deal Brexit mount
The Bank of England has warned that the UK faced a one-in-three chance of falling into recession