Pound slides further as banks hit

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Yellow Belt
Sterling's slide has continued, with the pound falling close to $1.37, as concerns about the UK economy and the banking sector intensified.

Sterling fell as low as $1.3715, its weakest level against the dollar since mid-2001.

The pound also weakened against the euro, with the single currency now worth 94 pence.

Banking shares took a further hit on Wednesday, with Barclays sliding more than 20% to a 24-year low.

Shares in Lloyds Banking Group, which now includes HBOS, were 17% lower at 37p.

The declines followed sharp falls in finance-related stocks in the US, amid renewed concern about the health of the global banking system.

Royal Bank of Scotland, however, was up 5% at 10.8 pence

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