The pound posted its steepest monthly decline against the dollar in August since the wake of the Brexit referendum.
With growing economic and political uncertainty, sterling fell by 4.5% last month to $1.16, its biggest monthly drop since October 2016.
Philip Shaw, chief economist at Investec, told the Financial Times that the fall was “very worrying” and reflected concerns that policies of Liz Truss, likely to be named the next prime minister next week, would diverge from the Bank of England.
