The British currency has lost almost a fifth of its value since the outcome of the Brexit referendum became known, and it’s currently trading at $1.22.
The pound is in freefall, as uncertainty in the markets and fears of a ‘hard’ Brexit take hold.
British Prime Minister Theresa May encountered tough opposition during her first EU summit, in which she was informed in no uncertain terms by Angela Merkel and Francois Hollande that Britain faces a ‘rough’ and ‘hard’ negotiation when the Brexit terms are scoped out.