TOKYO (APP) – The pound collapsed to its lowest level since 1985 on the back of fears that Britain will vote to leave the European Union.

Critics have warned that the United Kingdom’s exit from the EU, if it is voted through, will be a hammer blow to the country’s financial markets.

The unit tumbled to $1.3466, its weakest level in three decades, according to Bloomberg data, as results in the EU membership referendum showed the “Leave” camp posting big wins and bookmakers making the exit camp favorites to win.