Sterling skids to 31-year low, US$ strengthens

London

STERLING slid to its weakest level in more than three decades against a broadly stronger US dollar on Tuesday, hit by fears over the impact of Britain's looming departure from the European Union.

The greenback climbed 0.7 per cent to a 13-day high against a basket of major currencies, helped by an increase in risk sentiment and an upbeat survey of the US manufacturing sector that drove investors to up their bets on a rise in US interest rates by the end of the year.