The pound may be falling, but there are still plenty of places it goes a long way. We look at five.Read more
Business reporter, BBC News
The pound has taken a knock amid continued uncertainty about the terms of the UK's departure from the EU.
It had been holding at levels well above $1.25 after a sharp jump on Thursday but has slipped back to $1.2516.
The FTSE 100 climbed by 0.6% as markets opened in London. Investors' spirits were boosted after Federal Reserve officials in the US again hinted that interest rate cuts were coming.
The FTSE 100 gained 44 points to hit 7,536 shortly after opening. Meanwhile, the FTSE 250, which is often seen as being more representative of the UK economy, climbed 53 points, or 0.3%, to 19,588.
The pound was down 0.2% against the dollar, with £1 worth $1.25.
SSP - owner of Upper Crust and a provider of services at airports - has illustrated the impact of the fall in the value of sterling.
In a planned trading update it says trading results from outside the UK are converted into sterling at the average exchange rates for the period.
The overall impact on revenue of the movement of foreign currencies (principally the euro, dollar, Swedish Krona, and Norwegian Krone) during the first three quarters of 2019, compared to the 2018 average, was 0.7% increase.
If the current spot rates were to continue for the rest of 2019, this would provide a 0.5% boost.
It says its expectations for the year "remain unchanged and whilst a degree of uncertainty always exists around passenger numbers in the short term, we continue to benefit from the structural growth opportunities in our markets and to create further shareholder value".
In the third quarter it said group revenue increased by 9.2% on a constant currency basis,
It said some airports have been impacted by the grounding of Boeing Max 737 aircraft and the transfer of passengers away from our terminals.
The pound is making gains against the dollar after hitting two-year lows on Wednesday, below $1.24, amid political uncertainty in the UK.
As the US market prepares to open, the pound is edging towards $1.25, trading at $1.2486.
BBC Radio 5 Live
Wake Up to Money
The pound has been at two-year lows against the dollar amid political uncertainy.
Jeremy Thomson-Cook, founder of Complete Currency Consulting, told Radio 5 Live's Wake Up to Money, that the pound was "very much trying to stage a recovery" overnight. But not having much success as it is still just around $1.24.
He said the market had changed from the days when it was dominated by companies buying and selling currencies to be able to trade goods.
Now 98% of the trade is between banks making bets with each other.
"The FX markets are the largest in the world. Something like just north of $5tn is traded every day. To put that in some context, it's the value of UK GDP for a year traded every single day. It's an absolutely vast market".
And it is affected by everything from political speeches, terrorist attacks and economic data, he said. "A tweet, anything can move these currencies," he said.
"You can see large volatile moves over the course of a morning," he said.
Sterling has ticked lower against the dollar to $1.2399.
Investors are spooked at the prospect of a no deal Brexit.
Both Jeremy Hunt and Boris Johnson, who are battling to become Conservative Party leader and the next Prime Minister, also said that the Irish backstop, to prevent a hard border between the north and the south, was dead.
The latest inflation data - while in line with the Bank of England's target of 2% - is unlikely to have much bearing on the Monetary Policy Committee, according to David Cheetham, chief market analyst at XTB Online Trading.
He describes it as "still very much of secondary importance given that Brexit uncertainty continues to loom large".
But Mr Cheetham reckons that prospect of a no deal Brexit may have been overdone and that the pound could recover.
"With so much pessimism around at present there is a feeling that we may be getting a little extreme on the negative side and it would not be at all surprising if there’s a bounce in the not too distant future.
"A kind of sell-the-rumour-buy-the-fact move may well play out, possibly coinciding with the new PM moving into Number 10."
The FTSE 100 is opening around ten points lower at around 7,568.
The pound is below $1.24 at more than two year lows amid on-going Brexit uncertainty.