The pound is falling further on the dollar after Friday's historic drop

 
William Turvill
Follow William
Britain Reacts To The EU Referendum Result
The UK voted to leave the European Union last week (Source: Getty)

The pound dropped 1.9 per cent on Sunday evening UK time, extending a fall of more than eight per cent on Friday.

Sterling racked up its worst daily fall on records dating back to 1971 at the end of last week after the UK voted for a Brexit.

Read more: Sterling suffers historic crash as Brits back Brexit

At one stage, the pound fell as low as $1.3224, more than 10 per cent down on highs of $1.50 reached on Thursday, before closing at $1.3684.

At around 11pm UK time on Sunday evening, the early hours of Sunday trading in Asia, the pound was down a further 1.9 per cent to $1.3421.

Michael Hewson, chief market analyst at CMC Markets, told City A.M. on Sunday: “How the political instability will play into sentiment around sterling is anybody’s guess, but I’m guessing it’s probably not going to be that positive.”

Brexit Britain: What you need to know

Related articles