Sterling heads for worst week of the year as Brexit talks collapse

'Another day of failed politics, another dispiriting day for British business', says CBI

The pound is on course for its worst week in 2019 after dropping to the lowest level in four months following the collapse of the Brexit talks, as business leaders warn that failure to break the deadlock is damaging the economy.

Sterling lost about half a cent against the US dollar on Friday to slide below $1.28 on the international money markets, compounding the steepest weekly decline for the currency since October as the talks between Theresa May and Jeremy Corbyn ended in acrimony.