Sterling slides as fears of 'hard' Brexit grow

The pound fell ahead of a key speech by UK prime minister Theresa May tomorrow

British prime minister Theresa May Pic: Getty

Sterling fell below $1.20 against the dollar before later recovering some ground as the UK currency again bore the brunt of fears abouta hard Brexit ahead of a much-anticipated speech from British prime minister Theresa May on Tuesday.

The pound fell as low as $1.1983 in early Asian trade, the first time it traded below $1.20 since October's unexplained "flash crash" and its lowest level against the dollar in 32 years. It later ...