Sterling plunged to a new low in trading in Asia amid rising worries about the fallout from the UK vote to leave the EU.

It touched $1.2798 against the dollar early today, which is a 31-year low, before recovering slightly.

Investor confidence was also undermined by the Bank of England\'s latest warning that there was evidence some of the risks it identified related to Brexit were already emerging.

In Asia, investors were concerned at the decision of Standard Life and Aviva to stop investors withdrawing money from their UK property funds.

Spot gold surged to $1,371.40 an ounce, a...