The pound is taking a dive

Now is not the time to be going on holiday to the US.

The pound is taking a battering on Wednesday, trading below $1.40 for the first time since 2009.

While currencies move for a variety of different reasons, most speculate the drop this week is to do with uncertainty over the Brexit referendum in June.

The pound fell hard on Monday after Boris Johnson decided to support the UK leaving the European Union and has continued after Michael Gove decided the same.

Here’s how it looks on Wednesday:

And here’s how it looks in context. This graph shows the pound approaching historical lows not seen since the mid-1980s:

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