Sterling slumps to lowest against euro for three years

Sterling fell to its lowest level against the euro for almost three years as the Bank of England restarted its stimulus programme, leaving the UK currency as the year’s worst performer once again.

It fell 0.5% yesterday to 86.4 pence, down from 76.5 pence on the eve of the Brexit vote on June 23.

The UK currency was trading as high as 71.5 pence against the euro this time last year.