Pound seen hitting 34-year low if Johnson drags UK to no-deal

Brexit man: Prime Minister Boris Johnson has promised to take Britain out of the European Union on Oct 31. — Bloomberg

LONDON: The pound will tumble to the lowest level since 1985 if the U.K. leaves the European Union without a deal, a prospect that looks more likely now than six months ago, according to a Bloomberg survey of analysts.

There is now a 30% chance that Britain will exit the bloc in October without a divorce agreement, the poll of 13 banks showed. That’s more than three times the level from a similar survey in February.