British pound falls in Asia

Monday, 16 January 2017 - 14:21

Sterling slumped to three-month lows in thin Asian trade on Monday with investors again concerned by media reports that the British government is prepared to make a "hard" exit from the European Union.

The pound fell 1.04 percent against the dollar at $1.2047 during early Asian time, after falling as low as $1.1979 earlier. This was the most the dramatic fall since last October when the pound nosedived to a three-decade low at $1.1819 amid fat-finger speculation and Brexit fears.

The euro was quoted up 0.85 percent at 0.8816 pounds, while sterling fell 1.4 percent on the safe-haven yen to 137.69 yen. The Japanese currency gained broadly, with the U.S. dollar dipping to 114.28.