The decrease has knocked sterling from its remarkably strong start to the year, which has seen it outperform all other major currencies.

Sterling is on track for its worst week all year as investors reassess the path for UK interest rates and the fallout from rising geopolitical tensions in the Middle East.

The pound sunk in afternoon trading following a strong jobs report from the US which sent the dollar soaring Gilts are sliding after that US data too, along with US Treasuries, while the FTSE 100 and 250 have moved higher Join the Markets Today team -- Sam Unsted,

The strike – which involved 45,000 workers across 36 ports, from Texas to Maine – was the first to hit the east and Gulf coast ports of the US since 1977. The tentative agreement is for a wage hike of around 62%,