What’s happening to the pound?
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]