At one point earlier pounds dropped to $1.2798, before recovering slightly to $1.2953. The Global stock markets have fallen and the pound has hit a fresh 31-year low as worries over the U.K’s vote to leave the E.U continue to rattle markets.
Analysts blamed warnings from the bank of England on Tuesday that Brexit risks were crystallizing and fears about the UK commercial property market.
The pound has now fallen by about 14% against the dollar since hitting $1.50 ahead of the referendum result.
Against the euro, the pound was down 0.4% on Wednesday, having earlier hit its lowest level since 2013.
SOURCE: BBC NEWS
0 Comments