Pound falls to lowest level against dollar since 1985
The currency is now more than 15% below the levels seen on the day of the EU referendum.
Sterling fell to a fresh 31-year low against the dollar as Asian markets opened on Wednesday.
The pound hit $1.2861 dollars, more than 15 per cent below the levels seen on the day of the EU referendum, in early trading.
Against the euro sterling fell one per cent below Tuesday's closing figure to €1.1625, its lowest level since 2013.
The slide follows a sharp drop on Tuesday following poor performance figures for the UK's dominant service sector.