Pound hits five-month low vs dollar and bitcoin drops amid Covid-19 worries – business live | Business

The pound has dropped to a new five-month low against the US dollar this morning, amid anxiety over the Covid-19 pandemic.

Sterling is down half a cent at $1.3620, the lowest since early February.

Back at the start of June, the pound hit a three-year high above $1.42, as the vaccine rollout boosted optimism in the UK’s outlook. But it’s been pulled down since, by worries over the strength of the economic recovery.

Jeremy Thomson-Cook, chief economist at international business payments firm Equals Money, says worries about new lockdowns being introduced are hitting the pound.

Sterling is looking a little sickly this morning as markets both take money out of risky bets and doubts increase as to the…