Sterling, savers, pensioners and buy-to-let

The pound has dived on Asian markets with automated trading being blamed for the volatility. At one stage it fell as much as 6 per cent to $1.1841 – the biggest move since the Brexit vote – before recovering to $1.24, still down 1.5 per cent. It is not clear what triggered the sudden sell-off. Analysts say it could have been automated trading systems reacting to a news report. The pound has been volatile since the UK voted to leave the European Union. The 6.1 per cent drop in the pound against the dollar while we were all sleeping is the second-biggest intraday fall the currency has ever suffered, according to the Financial Times. It’s behind only the 11.1 per cent tumble that resulted as the outcome of the EU referendum result became clear. To put that in context, today’s seen a bigger slide than during both the financial crisis and Black Wednesday. The pound has since made back some ground and is down 1.3