The pound fell by 6% to US$1.1841 on Friday morning, with traders confused as to the cause. At one stage in overnight trading, the pound was down by as much as 10% to $1.1378, until a rogue outlying trade was cancelled, leading to a recovery. When the London markets opened, sterling was trading at $1.2430. Hard Brexit has haunted sterling.”A trader at a European bank in Tokyo said: “This was even a bigger move than what we saw after the Brexit vote. The pound has fallen by 13% against the dollar since Britain voted to leave the EU on 23 June.

Source: The Guardian October 07, 2016 02:10 UTC