Pound hits 31-year low against US dollar

London 4 Oct (ANA) - Foreign exchange traders are “spooked” by Theresa May’s Brexit plan, say analysts, as sterling slides to $1.277. The resurgence in Britain’s construction sector hasn’t done the pound much good. Sterling is still ploughing 31-year lows this morning, trading at $1.2771 against the US dollar and 87.4p against the euro. Carlo Alberto De Casa, chief analyst at ActivTrades, says: “This is a clear signal that the fears for a hard Brexit are becoming bigger day by day and that also the limitation of the freedom of movement is taking the investors away from the pound.” FA/ANA/4 October 2016--------