A dealer watches monitors at the foreign exchange dealing room in Seoul, South Korea, Friday, June 24, 2016. Asian stock markets were volatile on Friday with Tokyo stocks and U.S. futures plunging as early vote results on whether Britain should stay in the European Union showed a tight race. (AP Photo/Lee Jin-man)
The Associated Press
HONG KONG (AP) - The pound slumped to its lowest in more than three decades on Friday as results on Britain's referendum on European Union membership showed that the "leave" side had won.
Uncertainty over the vote results had sent the currency on a wild ride. Just after polls closed, it rose to its highest point for the year of $1.50. About six hours later it tumbled more than 10 percent to $1.3230, which was its lowest level in 31 years.
The whipsaw trading was part of broader turmoil in global financial markets sparked by the vote as results showed that voters had favored quitting the EU. Stock markets and oil prices also plummeted.
In other currencies, the yen strengthened as investors sought safety in the currency, which is considered a haven. It briefly broke through the 100-yen mark to as low as 99.01 against the dollar, its strongest since November 2013. The dollar was recently trading at 101.46 yen, down from 104.80 yen in late trading Thursday.
The euro weakened to $1.0955 from $1.1318.
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This story corrects to show that the euro weakened instead of strengthened.
A currency trader rubs his eyes at the foreign exchange dealing room in Seoul, South Korea, Friday, June 24, 2016. Asian stock markets were volatile on Friday with Tokyo stocks and U.S. futures plunging as early vote results on whether Britain should stay in the European Union showed a tight race. (AP Photo/Lee Jin-man)
The Associated Press
Currency traders talk near screens showing foreign exchange rates between British pound/the U.S. dollar and euro/the U.S. dollar at a foreign exchange dealing room in Seoul, South Korea, Friday, June 24, 2016. Asian stock markets were volatile on Friday with Tokyo stocks and U.S. futures plunging as early vote results on whether Britain should stay in the European Union showed a tight race. (AP Photo/Lee Jin-man)
The Associated Press
A currency trader watches monitors near screens showing foreign exchange rates between British pound and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, June 24, 2016. Asian stock markets were volatile on Friday with Tokyo stocks and U.S. futures plunging as early vote results on whether Britain should stay in the European Union showed a tight race. (AP Photo/Lee Jin-man)
The Associated Press
A currency trader talks near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Friday, June 24, 2016. Asian stock markets were volatile on Friday with Tokyo stocks and U.S. futures plunging as early vote results on whether Britain should stay in the European Union showed a tight race. (AP Photo/Lee Jin-man)
The Associated Press