Pound sterling value - latest updates: Pound tumbles as PM delivers Brexit statement

All the latest pound sterling and exchange rate news

(REUTERS)

Pound sterling has been closely watched since the EU referendum, when it plunged against the dollar and the euro to levels last seen in 1985 as markets were rocked by the unexpected Brexit vote.

Since then it has regained some ground, lost it again, moving up and down regularly, but has not managed to get back to pre-referendum levels.

“The pound has become the main lightning conductor for market sentiment and in general a ‘hard’ Brexit or ‘no deal’ have been greeted with dismay by sterling.

"The prospect of a ‘soft’ Brexit has tended to receive a warmer welcome from the currency markets,” said Russ Mould, investment director at AJ Bell, earlier this year.

Talk of a hard Brexit does indeed tend to put the pound under pressure, while positive economic news from the Bank of England usually gives sterling a boost.

More recently, fears have been raised over a potential no deal Brexit, which has sent the currency tumbling again.

We will be following developments and explaining why the pound is going up or down in value right here, so stay tuned.