INM

Pound hits lowest levels since 1985

There has been a dramatic fall in the value of the pound as traders bet the UK will exit the European Union. 

At one stage it hit $1.3459 (US) a 9% plunge, and a low not seen since 1985.

Presently the Australian dollar is still buying just 55 pence. 

Before the results started to come in the pound rose as high as $1.50, as traders bet on a Remain victory, BBC news reports.

But following early strong Leave votes in north-east England it tumbled to $1.43 and then took another dive after 03:00 BST as Leave maintained its lead.

Expert warns vote could trigger another global financial crisis



STORM WARNING: Lightning, gusty winds forecast over fires

STORM WARNING: Lightning, gusty winds forecast over fires

BoM has recorded a southerly change in wind direction

Where to go if you need to evacuate

Where to go if you need to evacuate

Centres are open across the region

Concern rife for wildlife as koala hospitals reach capacity

premium_icon Concern rife for wildlife as koala hospitals reach capacity

There is no estimation as to how many koalas have died