The pound tumbled 1% after one of Britain's top ministers resigned in a dramatic protest over Brexit.
"I cannot in good conscience support the terms proposed for our deal," said Dominic Raab, in a significant blow for Theresa May's hopes of remaining prime minister.
And in the past few minutes, one of his colleagues - Esther McVey - has also quit.
Sterling tumbled from $1.30 to below $1.28:
https://www.wbca.st/ptdXW0w
Elsewhere:
- Europe's stocks fell following an early advance
- Shares in Asia had their largest rise in almost two weeks
- U.S. oil was unchanged at $56.25 after ending its 12-day losing streak
More details:
https://www.wbca.st/uTplAMw