Philip Hammond said that the pound was falling as markets realised that Brexit was going to happen CHRISTOPHER FURLONG/GETTYHolidaymakers were being offered as little as €0.97 to the pound yesterday as bureaux de change sought to profit from a slump in the value of sterling. The pound has fallen 15 per cent since the EU referendum and hit a 31-year low against the US dollar and a three-year low against the euro yesterday. The fall followed a “flash crash” of sterling on the foreign exchange markets after warnings from European leaders that Britain would pay a heavy price for Brexit. The crash was made worse by automated currency dealing on Thursday night. Philip Hammond, the chancellor, said that…

Source: The Times October 07, 2016 23:18 UTC