What’s happening to the pound? – BBC Business analysis

What’s happening to the pound?

Pound versus dollar

The pound plummeted in Asian trading early on Friday. And no-one really seems to know why.  Did a trader make a mistake? Did the computers go haywire? And where will the pound go next?

What actually happened?

Overnight the value of the pound fell dramatically. It was briefly down 6%, hitting a value of $1.18 against the dollar at 7:09am in Hong Kong (00:09 in the UK).   

The British currency has been on a downward trend since the Brexit vote, but this was the biggest move since the referendum on 23 June.     [Read more]

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