Sterling has hit $1.2634, lowest since 1985, as Philip Hammond flies to New York to reassure US banks about Brexit.
A wave of selling has swept the pound down to a fresh 31-year low against the dollar on Wednesday, as Chancellor Philip Hammond flies to New York to reassure US banks after the UK voted to leave the EU.
The currency has fallen below $1.27 level, down to just $1.2632 in afternoon trading, extending Wednesday’s sell off. It went up slightly to $1.2652 at 4.40pm
This is the weakest level the currency has seen since June 1985 and it is down 2.3 per cent from Monday after Theresa May pledged to trigger Article 50 by March 2017.
The currency is also 0.5 per cent lower against the euro!
The currency has fallen below $1.27 level, down to just $1.2632 in afternoon trading, extending Wednesday’s sell off. It went up slightly to $1.2652 at 4.40pm
This is the weakest level the currency has seen since June 1985 and it is down 2.3 per cent from Monday after Theresa May pledged to trigger Article 50 by March 2017.
The currency is also 0.5 per cent lower against the euro.
The post Pound Hits Another 31-Year Low appeared first on The London Hornet.