EFFECT ON ASIAN STOCK MARKETS
"Sterling's crash seems to have affected sentiment across Asia," Margaret Yang, an analyst at CMC Markets in Singapore, told Bloomberg News.
The fright in foreign exchanges was reflected on Asia's stock markets as investors fled high-risk assets, with losses across the board.
Tokyo ended down 0.2 percent and Hong Kong slipped 0.4 percent, while Sydney closed 0.3 percent lower and Seoul eased 0.6 percent.
EFFECT ON EUROPE
While the British pound fell, the euro hit a seven-year-high 94.15 pence, before easing slightly.
Minutes from the European Central Bank indicated it is unlikely to trim its stimulus any time soon.
While the British economy has shown signs of improvement in the months since Brexit, there are concerns about the wider long-term impact on the bloc losing its second-biggest economy.
The next test for sterling will come later in the trading day when the US is due to release a key jobs report, with a healthy reading
reading (noun)
Meaning: taking a measurement of something
Thai Translation: จำนวนตัวเลขที่อ่านได้จากอุปกรณ์ (เช่นจากปรอทวัดอุณหภูมิ)
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expected to strengthen the Federal Reserve's case for hiking interest rates before the year's end.