Among major currencies, sterling’s loss of more than 5 per cent against the US dollar this year ranks as one of the worst market performances, with only Mexico and Argentina falling further, the FT reports.
After dropping a full 2 per cent on Monday, the biggest one-day decline for the UK currency since October 2009, sterling has continued declining, hitting a low of $1.3965 on Wednesday — its lowest level since 2009.
The risk of the UK leaving the EU has dragged sterling into rarely visited territory against the dollar.
During the post Bretton-Woods era of freely floating currencies, the $1.40 level has effectively been a floor for the pound.
