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Pound hits 31-year low as leave side takes lead in EU vote

The currency tumbled to as low as $1.3460 on Friday, which was its lowest level in 31 years.

Published: 24th June 2016 09:49 AM  |   Last Updated: 24th June 2016 09:49 AM   |  A+A-

Hong Kong Asia Curren_Mukh

A board showing currency exchange rates at a money exchange store in Hong Kong, Friday, June 24, 2016. The British pound is experiencing volatile trading as results from Britain’s vote on European Union membership is tallied. (AP Photo

By AP

HONG KONG: The pound slumped to its lowest in more than three decades on Friday as results on Britain's vote on European Union membership give the "leave" side a small but growing lead.

The currency tumbled to as low as $1.3460 on Friday, which was its lowest level in 31 years.

It fell about 10 percent from the 2016 high of $1.50 hit just hours earlier.

Uncertainty over the vote's outcome has kept world currency markets on edge.

The yen, meanwhile, strengthened as investors sought safety in the currency, which is considered a haven.

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