UK cabinet said to plan no-deal Brexit meeting in Sept.

According to a Bloomberg report, the UK cabinet is said to plan a no-deal Brexit meeting in September. The UK PM Theresa May is stepping up preparations in case of a break down in the Brexit negotiations and seek ways to keep Irish border open under a no-deal Brexit scenario.

The headlines did little to ease the prevailing bearish pressure surrounding the British Pound, with the GBP/USD pair struggling near mid-1.2800s, levels last seen in late-August 2017.