British pound dives over 4pc against dollar

• The pound meanwhile slid 2.6 percent against the euro, with the single currency trading at 93.58 pence.

Sterling struck $1.1463, the lowest level since 1985. It recovered slightly moments later to trade at $1.1554. The pound meanwhile slid 2.6 percent against the euro, with the single currency trading at 93.58 pence.