Pound drops as Johnson faces battle to pass Brexit bill

October 18, 2019: Sterling fell Friday as investors fret over Boris Johnson's chances of pushing his Brexit deal through parliament, while Asian markets were mostly down after data showed China's economy expanded at its slowest pace in nearly three decades.

The pound rallied almost to $1.30 on Thursday following news that negotiators had hammered out an agreement that would avoid Britain's leaving the EU without a divorce deal, a move many warn would be economically catastrophic.

However, the joy was soon tempered by the realisation that the British prime minister faces an uphill task in getting it past lawmakers, with opposition MPs and even some in his own Conservative party saying they were against it.

Most importantly, Northern Ireland's Democratic Unionist Party (DUP), which props up Johnson's government, said it was "unable to support these proposals".

AFP/APP