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Expand chart
Data: Investing.com; Chart: Axios Visuals

Currency traders are aggressively pricing in a no-deal Brexit scenario after remarks over the weekend from the U.K.'s new government, headed by Prime Minister Boris Johnson, and are selling the pound as a result.

What's happening: Michael Gove, who is in charge of planning for a possible no-deal exit from the EU, has said the British government is "working on the assumption" that it will leave without a deal.

  • The pound on Monday dropped 1.3%, and fell further Tuesday morning, touching its lowest level against the dollar in close to 3 years.

What they're saying: "The new UK government wants to show its determination to leave the EU without a deal in less than 100 days to bolster its negotiating position," Marc Chandler, chief market strategist at Bannockburn Global Forex, said in a note to clients.

  • "It does not appear to be scaring European officials but is scaring investors who are leaving sterling."

Go deeper: Boris Johnson begins by blowing up Theresa May’s Cabinet

Go deeper

Scoop: Border officials project 13,000 child migrants in May

The "El Chaparral" border crossing at Tijuana. Photo: Stringer/Picture Alliance via Getty Images

A Customs and Border Protection staffer told top administration officials Thursday the agency is projecting a peak of 13,000 unaccompanied children crossing the border in May, sources directly familiar with the discussion told Axios.

Why it matters: That projection would exceed the height of the 2019 crisis, which led to the infamous "kids-in-cages" disaster. It also underscores a rapidly escalating crisis for the Biden administration.

4 hours ago - World

U.S. strikes Iran-backed militia facilities in Syria

President Biden at the Pentagon on Feb. 10. Photo: Alex Brandon - Pool/Getty Images

The United States on Thursday carried out an airstrike against facilities in Syria linked to an Iran-backed militia group, the Pentagon announced.

The state of play: The strike, approved by President Biden, comes "in response to recent attacks against American and Coalition personnel in Iraq, and to ongoing threats to those personnel," Pentagon press secretary John Kirby said in a statement.

Senate parliamentarian rules $15 minimum wage cannot be included in relief package

Photo: Al Drago/Getty Images

The Senate parliamentarian ruled Thursday that the provision to increase the minimum wage to $15/hour cannot be included in the broader $1.9 trillion COVID relief package.

Why it matters: It's now very likely that any increase in the minimum wage will need bipartisan support, as the provision cannot be passed with the simple Senate majority that Democrats are aiming to use for President Biden's rescue bill.