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Pound falls further in Asian trading on Monday

Pound falls further in Asian trading on Monday

The pound has fallen sharply in trading in Asia on Monday, adding to Friday's record one-day decline.

Sterling was trading at $1.3365, down almost 3% from Friday's close. Against the euro it was trading at €1.2147, down 1.4%.

On Friday the pound had its biggest one-day fall against the dollar, at one stage sinking as low as $1.3236.

George Osborne will issue a statement before the start of trading in the UK in a bid to calm the markets.

The Chancellor has not spoken publicly since the Leave campaign won Thursday's referendum.

Authorities in Asia have been taking action to stabilise financial markets.

(BBC News)

Last modified on Tuesday, 28 June 2016 08:35