After briefly plunging to its weakest level in more than 30 years, the pound trimmed its earlier losses to finish Friday at a more-than six year low against the dollar.

In a historic decision, the U.K. voted to leave the European Union in a long-awaited referendum on Thursday, plunging global markets in chaos.

At one point, the U.K. currency was down by more than 10% intraday to $1.3230, its weakest level since 1985.

Read: Dimon says J.P. Morgan currency–trading volume hit a record amid Brexit

The pound briefly peaked above $1.50, its strongest level of 2016, as polls closed in the U.K. late Thursday. But it began to weaken sharply as the “leave” vote pulled ahead.

But the pound trimmed its loss as the session wore on, buying $1.3649 GBPUSD, +0.05% late Friday, its weakest level since the financial crisis. It was down 6.3% from $1.4551 late Thursday — it’s largest daily drop ever.

Though the pound finished off its lows, many market strategists believe it will fall further in the coming months.

Torsten Slok, chief international economist at Deutsche Bank, expects the Bank of England to cuts interest rates in the near future, which could further weigh on the pound.

“As the dust settles here, further downside risk is likely for the pound and for risk assets in general,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

Read: How Brexit horribly blindsided investors, in 5 charts

Read: U.K. votes to leave EU in historic Brexit referendum

The first big shock for the pound was when results from Sunderland, a city in northeast England, that was expected to vote “remain.” Instead, the city overwhelmingly favored Brexit, with 61.3% of voters voting to “leave.”

Read:5 steps the European Union must take regardless of Brexit vote

In other currency trading The euro strengthened to GBPUSD, +0.05% 83.2 pence, its strongest level against the pound in more than two years, soon after the vote was called in favor of Brexit. The shared currency bought 81.45 pence late Friday, compared with 77.83 pence late Thursday.

Though the euro strengthened against the pound, it lost ground EURUSD, +0.05% against the dollar, trading as low as $1.0909, its weakest level in more than three months. It recently bought $1.1012, compared with $1.1354 late Wednesday.

Meanwhile, haven assets and currencies saw large inflows. The Japanese yen USDJPY, -0.06% briefly broke above ¥100 to the dollar, its strongest level in more than three-and-a-half years. The dollar trimmed its drop against the Japanese currency as the day wore on, buying ¥102.24 late Friday, compared with ¥104.80 late Thursday.

The Swiss franc EURCHF, -0.02% , another haven currency, also strengthened, with one euro bought 1.0824 francs late Friday, compared with 1.0892 francs late Thursday.

Doug Borthwick, head of currency trading at Chapdelaine & Co., said it’s likely that both the Bank of Japan and Swiss National Bank could intervene in an effort to weaken their currencies, though he doubted any central-bank action would significantly pare back their gains.

“The intervention you’d expect right now isn’t one that would change the direction of currency moves. It would merely halt the rise,” Borthwick said.