Pound hits 14-month low against dollar as CBI hits out over ‘hole in confidence’

The pound fell by nearly a cent against the dollar on Monday. Photograph: Andy Rain/EPA

The head of Britain’s biggest lobby group has accused the government of damaging business “confidence and trust”, as the pound hit a new 14-month low against the US dollar.

Rupert Soames, the chair of the Confederation of British Industry (CBI), criticised the measures being introduced by the government.