Pound Hits New Low Amid Fresh Market Turmoil

Stock markets were also on the back foot on Wednesday, with the FTSE 100 down by over 100 points or 1.5%, wiping more than £25bn off the value of its constituent companies. A weak pound means higher prices for British holiday makers and makes imported goods including many supermarket staples more expensive, though it can help exporters sell their wares abroad as they will be cheaper for foreign buyers. House builders, which have been under pressure since the UK voted to quit the EU, were a