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Sterling slumps as Brexit vote confirmed

Sterling slumps as Brexit vote confirmed

Sterling has fallen against the dollar by 1.6 per cent in early trading as investors become wary over the UK’s European Union membership.

On Saturday morning, Prime Minister David Cameron confirmed June 23 as the date for the UK’s ‘in/out’ referendum.

Thus far, sterling is on course for its largest single day drop against the dollar in six months. It is down 1.2 per cent against the euro. UK 10-year gilt yields are also marginally up.

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Sterling is now at $1.42 and €1.28.