LONDON: Sterling's trade-weighted index fell to its lowest since early 2009 on Monday, extending hefty losses seen last week, as deepening worries about an adverse impact on the UK economy from a likely exit from the European Union weighed.
The currency was slightly calmer than Friday when a "flash-crash" wiped out a tenth of its value in a matter of minutes in Asian trade, but sentiment towards the pound remained gloomy with speculators adding to bets against it in recent weeks..
Sterling index fell to 74.2 its lowest since Jan 2009 and down 0.7 percent on the day. The index has lost over 9 percent since the referendum results on June 24 where Britons voted to leave the EU.
Sterling was down 0.4 percent at $1.2380 while the euro was up 0.2 percent at 90.255 pence. Against the dollar, sterling hit a low of $1.1491 on Friday, its lowest since 1985.
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