Pound slumps to 31-year low versus dollar on Brexit talk

The pound slumped to a 31-year low against the dollar Tuesday on concerns over the timing of Britain`s planned exit from the European Union, according to traders.

Britain`s currency also struck a fresh three-year low point against the euro, while the drops helped pushed London`s benchmark FTSE 100 stocks index up to a 16-month high beyond 7,000 points at the open.