By Olga Cotaga
LONDON (Reuters) – Sterling was below the $1.22 mark in early London trade on Tuesday, having hit a 28-month low of $1.2120 overnight, battered by concerns that Britain may be crashing out of the European Union without a deal on Oct. 31.
Against the euro, the beleaguered currency was down 0.5% to 91.65 pence, having dropped earlier to a two-year low of 91.88 pence.
The British currency has shed around 2.4% of its value since Boris Johnson became prime minister and said he was determined to take Britain out of the bloc on deadline even if a transition deal is not agreed by then.
(Reporting by Olga Cotaga, Editing by Abhinav Ramnarayan)