Banks see more falls for embattled sterling

Sterling resumed its decline as investors waited for clues about the cause of last week’s flash crash and on whether Britain is truly headed for a hard Brexit.

Another major international bank also released new forecasts, predicting sterling could fall to 95 pence against the euro by the end of the year.

The currency slumped 4.2% last week, its worst performance since June 24, on the news that prime minister Theresa May planned by March to trigger Britain’s two-year withdrawal from the EU.