Pound plunges almost 5% as speculators rush into dollars as sterling falls.

Monday saw a record low for the pound.

causing the Bank of England to possibly take immediate a

When belief in Britain's strategy to borrow its way out of difficulties declined

At one time, the pound fell by over 5% to $1.0327, breaking through 1985 lows.

Thinner liquidity in the Asia session made moves worse.

However, despite falling back to $1.05, the currency has lost over 7% of its value in only two sessions.

The dollar must be purchased as a risk off-trade.

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