Sterling slid below $1.19 on Wednesday to hit its lowest point since October 2016 as liquidity concerns sent the dollar surging and hammered currencies around the world. 

The pound fell 1.5% to hit $1.1892, its lowest level since October 2016, in the aftermath of the Brexit referendum.

It is down more than 9% against the dollar since the turn of the year, with fears over the economic fallout from the coronavirus pandemic and radical monetary policy action from the U.S. Federal Reserve exerting further downward pressure over the past two weeks.

This is a breaking story and will updated shortly.

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