Sterling falls to lowest levels since 'flash crash' as May signals 'hard Brexit'

Fell 1.6% to $1.1986 this morning

Sterling has slid below $1.20 for the first time since October's "flash crash" on reports Prime Minister Theresa May will use her speech on Tuesday to signal a "hard Brexit".

Sterling fell 1.6% this morning to $1.1986, its lowest level since it plummeted 6% in minutes to hit $1.14, following a computing error back in October. After falling to $1.1986 in morning trading, sterling has since rebounded above the $1.20 mark to trade at $1.2056 by 11am, still a 1.2% drop. The fall came after it was reported by The Sunday Times that May (pictured) is moving towards a 'hard Brexit', which would involve quitting the EU's single market for goods and services in return for control over immigration and deals with other countries outside of the EU. It is predicted h...