August 23, 2017 / 8:14 AM / a year ago

Sterling dips below $1.28 for first time since June

LONDON, Aug 23 (Reuters) - Sterling fell briefly below $1.28 for the first time since late June on Wednesday and deepened its recent losses against the euro as gloom over Britain’s economic prospects and the Brexit process encouraged investors to push the pound lower.

By 0805 GMT sterling, which has fallen more than 3 percent against the dollar since the start of August, was trading at $1.2816 after touching a low of $1.2799 in early trades.

Against the euro it fell a quarter of a percent to 91.96 pence, its lowest since a short-lived “flash crash” in October. (Reporting by Patrick Graham; Editing by Saikat Chatterjee)

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