The British pound plunged against other major currencies on Monday as Prime Minister David Cameron tried to shore up support for remaining in the European Union when the UK holds a referendum in June.
The pound fell 1.7 per cent to $US1.4166, and also sagged against the euro, as bookmakers shortened the odds on a vote to leave - though betting markets still favour a "remain" victory.
Cameron was due to make his case in the House of Commons on Monday, arguing that a deal he struck on Friday with the bloc gives Britain "special status" within the 28-nation EU, exempting Britain from ever-closer political bonds with the bloc and protecting the status of the pound against the euro single currency used by 19 EU countries.
Cameron's governing Conservative Party is deeply split on the issue, with as many as half of Tory legislators in favour of leaving the EU - a prospect known as Brexit. They include London Mayor Boris Johnson, who on Sunday declared his support for a "leave" vote.
In a column for Monday's Daily Telegraph newspaper, Johnson - one of Britain's few nationally known and popular politicians - wrote that the referendum offered a "once-in-a-lifetime" chance for real change.
Unlike some dyed-in-the-wool Eurosceptics, who want Britain to leave the bloc entirely, Johnson suggested his goal is to renegotiate a new relationship with the EU after a Brexit vote.
"There is only one way to get the change we need - and that is to vote to go; because all EU history shows that they only really listen to a population when it says 'no'," he wrote.
Six of the 23 members of Cameron's Cabinet also have announced they will campaign for an exit, though most of the senior figures say they will support the prime minister.
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