The pound suffers ‘flash crash’ in worst drop since Brexit vote
Chancellor Philip Hammond has urged people to remain calm despite sterling suffering a shocking ‘flash crash’.
The pound plummeted dramatically in Friday’s Asian trading, with most fingers of blame pointed squarely at concerns over Brexit.
It fell 6% to $1.1841 – the biggest drop since the referendum result was announced on June 24.
Sterling later recovered some of those losses, but remains volatile.
Speaking to the BBC, Hammond said that ‘markets will go up and down – markets respond to noises’.
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