Sterling at increased risk as hard Brexit looks likely

Growing signs that the UK could be heading for a ‘hard’ Brexit, which would see it lose access to the Single Market, triggered a fresh wave of sterling selling in the past couple of weeks.

This has seen the pound fall close to $1.20, with the euro climbing above 90p.

Indeed, in one short ‘flash crash’ episode, driven by computer-trading in thin Asian markets, sterling dived below $1.15 and the euro hit 94p.