Pound Slides to 30-Year Low as U.k.’s Future Looks Uncertain

China’s yuan sees biggest 1-day depreciation since a devaluation in August

by Joseph Adinolfi, Sara Sjolin, and Gregor Stuart Hunter
Market Watch

The pound fell to its weakest level since the mid-80s on Monday as anxieties about the U.K.’s historic vote to leave the European Union weighed on European currencies and stocks.

[…] Sterling GBPUSD, -3.2173% slumped to $1.3152 in recent trade, its weakest level since 1985, compared with $1.3684 late Friday in New York. The FTSE 100 FTSE, -3.23% slumped 3.2% to 6,138.

Meanwhile, the euro and a host of other European currencies — including the Norwegian krone, Swedish krona, Hungarian forint and Polish zloty — all recorded sharp declines as investors worried about possible economic contagion spreading through Europe.

“The strong places are the places that have very little to do with this,” said Kit Juckes, chief currency strategist at Société Générale.

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