The pound also weakened to a six-month low versus the euro.
. Against the single currency, the pound has also suffered 10 consecutive weeks of losses — the longest on record.
"I am worried that volume is starting from a very low base and hedging flows will be picking up further," he said. Rochester said in a separate text on Monday that he expected a spike in volatility for the pound's trade once lawmakers returned to the House of Commons in September after their summer breaks.
Previous London Mayor and former Foreign Secretary Boris Johnson is the favorite to defeat current Foreign Secretary Jeremy Hunt in the runoff.
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