The pound has dropped against the dollar despite Theresa May surviving a confidence vote in her leadership.
More than a third of the prime minister’s MPs voted against her in the ballot on Wednesday evening.
In the wake of the vote, sterling initially reacted positively before falling about half a cent against the dollar.
The exchange rate is now about 1.2596 dollars to the pound.
Earlier in the week sterling took a huge hit, plummeting to 20-month low against the dollar after Mrs May’s decision to delay the Commons vote on her Brexit deal.
It made gains on Wednesday from $1.2527 to $1.2634 as the prime minister vowed to fight the challenge to her leadership, saying a change could jeopardise Brexit.
But despite winning Wednesday evening’s vote, 117 votes against the prime minister is considered by many to be a big number.
"It is a terrible result for the prime minister," Jacob Rees-Mogg, leader of the European Research Group, told the BBC.
"The prime minister must realise that, under all constitutional norms, she ought to go and see the Queen urgently and resign."
