'Hard Brexit' fears send pound to 31-year low against dollar
Sterling plunged to a new 31-year low against the dollar on Tuesday as fears over a so-called "hard Brexit" intensified.
The pound fell 0.5% against the greenback in morning trading to 1.276 US dollars, its lowest level since 1985. Sterling was also down 0.2% against the euro at 1.14.
Investors have been spooked by a series of announcements at the Conservative Party conference, where Theresa May said the two-year process of negotiating Brexit under Article 50 of the EU treaties will start by the end of March, putting the UK on course for a "hard Brexit".
This would see... read more
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