Atlanta's 12th-inning blitz buries Dodgers


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The Atlanta Braves heaped on four runs in the 12th inning to beat the Los Angeles Dodgers 9-5 on Friday. Garret Anderson, who drove in the tying run for Atlanta with a ninth-inning single, scored the go-ahead run in the 12th on a single by Yunel Escobar. Los Angeles' lead in the NL West was cut to six and a half games, the same margin by which Atlanta trails the NL East leader Philadelphia. The Florida Marlins snapped an untimely three-game losing streak and boosted their playoff hopes by beating the Philadelphia Phillies 3-2. Ricky Nolasco pitched seven sharp innings for Florida, allowing only four hits while striking out seven.

The Colorado Rockies took advantage of the withdrawal of the Chicago Cubs' pitcher Carlos Zambrano to beat the Cubs 6-2. The Rockies won their 15th consecutive game against a rival from the NL Central and moved into a tie for the provisional wild card berth. About 15 minutes before the start of the game, Zambrano was scratched because of a recurrence of a lower back injury. The Rockies jumped on emergency stand-in Sean Marshall for three runs in two innings.

The Houston Astros beat the Milwaukee Brewers 6-3 to move level with Milwaukee in the NL Central and the wild card race. Jason Michaels hit a solo homer in the fifth and a three-run shot in the sixth. In Pittsburgh, Ryan Ludwick's sacrifice fly in the eighth scored the go-ahead run as the St Louis Cardinals beat the Pittsburgh Pirates 6-4 to stretch the Pirates' losing streak to six games.

Brandon Phillips drew a tie-breaking bases-loaded walk in the ninth inning as Cincinnatti Reds took advantage of a meltdown by the San Francisco Giants' bullpen to win 10-5. * AP

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UNSC Elections 2022-23

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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