© Reuters. FILE PHOTO: Pound banknotes are seen in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration
LONDON (Reuters) – Sterling plunged to a new March 2020 low against the dollar on Tuesday, extending losses after the resignation of Britain’s finance minister threw Prime Minister Boris Johnson’s government into a crisis.
His resignation came minutes after the health ministere stepped down, saying he had lost confidence in Johnson’s ability to govern in the national interest.
The pound touched a low of $1.189 and by 1750 GMT stood at $1.193, down 1.4% on the day.