Chancellor on pound flash crash: 'Markets go up and down'

Chancellor Philip Hammond has responded to the flash crash in sterling saying that market turbulence is to be expected, but the country is fundamentally strong.

Speaking to the BBC's Kamal Ahmed at the International Monetary Fund autumn meeting in Washington, Mr Hammond said that markets would have to get used to volatility while Britain negotiated its departure from the European Union.

The pound was pummelled in the currency markets in Friday Asian trading, with traders blaming concerns over Brexit and a flash crash that hit the market.