Sterling hit a seven-year low yesterday as David Cameron defended Britain’s membership of the EU against a rising tide of opposition within his own Conservative party.
As currency markets took fright, Mr Cameron attempted to crush the insurgency led by Boris Johnson, suggesting in the House of Commons that the London mayor was only backing a vote to exit the EU in the June 23 referendum to advance his ambitions of becoming prime minister.
With at least half of Mr Cameron’s 331 MPs expected to back Brexit and with Mr Johnson emerging as a powerful advocate of the Out campaign, the pound was down by as much as 2.4 per cent to hit a seven-year dollar low.
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