The pound sterling took a hammering on financial markets on Wednesday, with the UK currency weakening above £0.90 against the euro – a nine-month low. Market concerns around the growing potential of a no-deal Brexit scenario resulted in a sharp selloff in the UK currency against most major currencies.

Sterling has been under severe pressure this week after Liam Fox, the UK secretary for international trade, said a no-deal Brexit was now more likely than an agreement with Europe. Fox put the chances of a no-deal Brexit at “60-40”, which he blamed Michel Barnier and the European Commission for.