Sterling plummets lower

Sterling plummets lower

A weakening pound provided momentum on the FTSE 100, up 0.866pc at 7,785.29, during an otherwise uneventful morning session.

Brent crude slipped 0.36pc at $74.38 following weak Chinese import data, but losses were limited by lower US inventories and the introduction of sanctions on Iran.

Sterling plummeted below $1.29 against the dollar for the first time in nearly a year following a selloff based on investor concerns of a no deal Brexit.

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