Pound dives further as Brexit looms, 9.2% weaker against Singdollar

The pound dived further early Friday afternoon as analysts and major media outlets called a Leave victory.
The pound dived further early Friday afternoon as analysts and major media outlets called a Leave victory.ST PHOTO: KEVIN LIM

SINGAPORE (AFP, Bloomberg) - The pound dived further early Friday afternoon as analysts and major media outlets called for a Leave victory.

The pound dropped to US$1.3305, its lowest since September 1985, swinging wildly from earlier deals when it touched a 2016 high of US$1.50.

The pound has plunged about 11 per cent against the US dollar, its biggest intra- day slide in history.

By 12:30 p.m Singapore time, the pound was down 9.2 per cent against the Singdollar at $1.8085.

The euro retreated from a six-week high, declining 3 per cent against the US dollar as Britain's exit from the bloc raises questions about the sustainability of the single currency.

It is down 1.6 per cent against the Singdollar, with one euro worth S$1.4999.