Latest: FTSE in meltdown, and now the pound crashes

Stock market crashes, banks going bust, recession… how much else can go wrong?

Answer: plenty. Britain now has a currency crisis on its hands, too.

This morning, the pound tumbled below $1.53 against the dollar in its biggest drop in at least 37 years. That’s even worse than on so-called ‘Black Wednesday’ in September 1992, when the UK was dumped out of Europe’s Exchange Rate Mechanism, the precursor to the euro.

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