The impact of Britain's European Union referendum continues to plague its economy, as the pound, which had plummeted to a 31-year low, plunged further on Wednesday after Aviva Investors and M&G suspended their property trusts. The currency dropped to 1.25 against the dollar – the lowest it had touched was $1.30 in 1985, reported The Guardian.

“There’s no inflation prospect, there’s no strong growth. The only thing we have is uncertainty,” said Hiroko Iwaki, a senior bond strategist at Mizuho Securities.

The Asian share market also nosedived on Wednesday. However, Japan’s yen rose to 100.94 against the dollar. Similarly, spot gold also touched $1,370.60, it’s highest since early 2014.

Meanwhile, The Bank of England took steps to ensure that banks can continue lending. Governor Mark Carney said they would free £150 billion for lending by lowering the capital amount that banks need to keep in reserve.

Ever since Britain voted to leave the European Union on June 23, there has been no positive news for the UK on the financial front. The global trends show that uncertainty has been the biggest factor for the slump in the economy.