Pound slumps to more than 30-year low against dollar

The pound has tumbled to its lowest level in almost 31 years

The pound tumbled Monday to its lowest level in almost 31 years on economic and political uncertainty after Britain voted last week to leave the European Union.

At about 0955 GMT, sterling slumped to $1.3222 -- the lowest level since September 1985 -- having rebounded slightly after a similar trough was struck on Friday.