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The pound is still in freefall

When will sterling hit rock bottom? Not yet evidently. The pound is extending its disastrous run against the dollar and euro to a third day, setting new multiyear lows against both. Sterling broke below $1.26 on Wednesday morning, a level not seen since 1985. Here is how the pound looks against the dollar at just after 7.50 a.m. BST (2.50 a.m. ET): And here is how the pound looks against the euro:Those numbers mark a fresh 31-year low against the dollar and a new 5-year low against the euro.
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