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Data: Investing.com; Chart: Axios Visuals

The British pound dropped to its lowest rate in 4 months against the dollar last week, and fell against the euro for 10 straight days, its longest losing streak since the euro was created.

Between the lines: Most analysts say the pound is reacting to the chances of a no-deal Brexit, but its movements suggest it's falling based on decreasing expectations of Brexit not happening at all (which would be positive for the currency).

  • The pound rose to a 1-month high against the dollar in early May after the governing Conservative Party, which is pushing Brexit, lost about 1,300 seats in local elections, the worst it's fared in more than 20 years.
  • The pound has been falling since, as Nigel Farage's Brexit Party is expected to perform well in Thursday's European Parliament elections.
  • On Friday, it fell to a 4-month low after Prime Minister Theresa May committed to announcing a departure timeline in June and the opposition Labour Party pulled out of Brexit talks.

Sterling has fallen against almost all of the world's major currencies, despite little in the way of hard data or commentary from Bank of England policymakers.

  • Last week's sell-off stands in stark contrast to the week leading up to April 15 when Britain was on the verge of leaving the EU with no trade agreement and the pound barely moved.

Go deeper: Everything you need to know about Brexit

Go deeper

Two officers shot in Louisville amid Breonna Taylor protests

Police officers stand guard during a protest in Louisville, Kentucky. Photo: Ben Hendren/Anadolu Agency via Getty Images

Louisville Metro Police Department said two officers were shot downtown in the Kentucky city late Wednesday, just hours after a grand jury announced an indictment in the Breonna Taylor case.

Driving the news: Metrosafe, the city's emergency services, said it received reports of a shooting at South Brook St. and Broadway Ave., near the area where protests were taking place. A police spokesperson told a press briefing the injuries of both officers were not life-threatening. One officer was "alert and stable" and the other was undergoing surgery, he said.

Updated 2 hours ago - Politics & Policy

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  1. Global: Total confirmed cases as of 9 p.m. ET: 31,778,331 — Total deaths: 974,436 — Total recoveries: 21,876,025Map.
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  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Missouri Gov. Mike Parson tests positive for coronavirus — Poll says 51% of Republicans trust Trump on coronavirus more than the CDC.
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Biden: Breonna Taylor indictment "does not answer" call for justice

Former Vice President Joe Biden. Photo: Leigh Vogel/Getty Images

Former Vice President Joe Biden on Wednesday condemned the grand jury indictment of a Louisville police officer who entered Breonna Taylor's home in March in a botched drug raid that led to her death, saying in a statement the decision "does not answer" for equal justice.

The big picture: Biden called for reforms to address police use of force and no-knock warrants, while demanding a ban on chokeholds. He added that people "have a right to peacefully protest, but violence is never acceptable."

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