The pound is tumbling

LONDON — Sterling is sliding to new lows on Wednesday morning after disappointing trade data was released by the Office for National Statistics (ONS).

The pound is down roughly 0.5% against the dollar as of 10.10 a.m. GMT (5.10 a.m. ET) falling as low as $1.2106 a few minutes ago. That takes it close to the currency's post-referendum low (discounting October's flash crash, when sterling dropped more than 6% in two minutes).

Here's the chart:The fall is due to weaker than expected trade data from the ONS, which showed that imports grew...
7 Published By - Business Insider - 2017.01.11. 10:27
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