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Pound Slumps to 31-Year Low Versus Dollar

The pound slumped to a 31-year low against the dollar on Tuesday.

AFP

Updated:October 4, 2016, 1:55 PM IST
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Pound Slumps to 31-Year Low Versus Dollar
An English five Pound note and coins are seen at a restaurant in the British overseas territory of Gibraltar, July 21, 2016/REUTERS

London: The pound slumped to a 31-year low against the dollar on Tuesday on concerns over the timing of Britain's planned exit from the European Union, according to traders.

Britain's currency also struck a fresh three-year low point against the euro, while the drops helped pushed London's benchmark FTSE 100 stocks index up to a 16-month high beyond 7,000 points at the open.

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