The pound sank to a fresh 31-year low against the dollar on Wednesday amid growing signs that the shock Brexit vote is already damaging the UK economy. The pound also fell to a near three-year low against the euro at €1.1741. Sterling hit a low of $1.2796 at one point as investors lost confidence in Britain’s future outside the European Union and piled out of the UK currency. “The suspension of commercial property fund redemptions by a number of big players has precipitated a broader sell off in the UK property sector including house builders and other asset managers. In Japan, the Nikkei fell 1.9% to 15,379, as concerns over the Brexit vote continued to be felt further afield.

Source: The Guardian July 06, 2016 02:49 UTC