The pound is crashing

Good afternoon!
The British pound fell by 2.1% to a low of 1.3003 against the dollar at 12:08 p.m. ET.
That's the lowest level since September 1985.
This follows earlier news that the Bank of England's Financial Stability report called Brexit "the most significant near-term domestic risks to financial stability".
The BOE's Financial Policy Committee also cut its countercyclical capital buffer for UK banks to zero from 0.50%.
And, separately, the UK's June PMI, which was colle