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British pound falls to lowest level in more than 2 years

Dion Rabouin, author of Markets
Expand chart
Data: investing.com; Chart: Axios Visuals

The British pound fell to its lowest level against the dollar since April 2017 on Wednesday, as concerns about a no-deal Brexit grew.

By the numbers: Analysts at Morgan Stanley even warned that a no-deal Brexit could send the pound to parity with the dollar for the first time ever. Sterling briefly touched $1.05 in 1985, Bloomberg reported.

Go deeper: Everything you need to know about Brexit

Go deeper

Rebecca Falconer
2 hours ago - World

World leaders react to "new dawn in America" under Biden administration

President Biden reacts delivers his inaugural address on the West Front of the U.S. Capitol on Wednesday. Photo: Alex Wong/Getty Images

World leaders have pledged to work with President Biden on issues including the COVID-19 pandemic and climate change, with many praising his move to begin the formal process for the U.S. to rejoin the Paris Climate Agreement.

The big picture: Several leaders noted the swift shift from former President Trump's "America First" policy to Biden's action to re-engage with the world and rebuild alliances.

Go deeper (2 min. read)Arrow
Orion Rummler
Updated 5 hours ago - Politics & Policy

In photos: The Biden and Harris inauguration

President Biden and first lady Jill Biden watch a fireworks show on the National Mall from the Truman Balcony at the White House on Wednesday night. Photo: Chip Somodevilla/Getty Images

President Biden signed his first executive orders into law from the Oval Office on Wednesday evening after walking in a brief inaugural parade to the White House with first lady Jill Biden and members of their family. He was inaugurated with Vice President Kamala Harris at the U.S. Capitol on Wednesday morning.

Why it matters: Many of Biden's day one actions immediately reverse key Trump administration policies, including rejoining the Paris Agreement and the World Health Organization, launching a racial equity initiative and reversing the Muslim travel ban.

Go deeper (<1 min. read)Arrow
Rebecca Falconer
7 hours ago - Politics & Policy

Republicans pledge to set aside differences and work with Biden

President Biden speaks to Sen. Mitch McConnell after being sworn in at the West Front of the U.S. Capitol on Wednesday. Photo: Erin Schaff-Pool/Getty Images

Several Republicans praised President Biden's calls for unity during his inaugural address on Wednesday and pledged to work together for the benefit of the American people.

Why it matters: The Democrats only have a slim majority in the Senate and Biden will likely need to work with the GOP to pass his legislative agenda.

Go deeper (1 min. read)Arrow