Pound falls to lowest in almost two years amid Brexit uncertainty

Sterling slumps to below $1.26 after Theresa May postpones vote on her Brexit plan

The pound has dropped to its lowest level for almost two years amid the growing risks to the British economy from political paralysis over Brexit and on a no-deal scenario.

Theresa May's decision to delay the parliamentary vote on her Brexit plan to avoid an embarrassing defeat for the government sent sterling tumbling by more than 1.3% against the dollar and by almost 1% against the euro on the foreign exchanges.

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