#AceFinanceNews – July.06: Sterling falls to new low against the dollar in Asia tradeThe pound falls to a new low in Asian trading as concerns about the UK’s vote to leave the European Union weigh on investor confidence.
It touched 1.2798 against the dollar on Wednesday, a 31-year low, before recovering slightly to $1.2929.
The pound has now fallen about 14% against the dollar since hitting $1.50 ahead of the referendum result.
US government bond yields also fell to record lows as investors rushed to put money in perceived havens.
The falls follow decisions by fund managers, including Standard Life and Aviva, to stop investors withdrawing money from their UK property funds.
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