scorecardresearchPound Hits Lowest Since 1985 as Cost-of-Living Crisis Bites

Pound Hits Lowest Since 1985 as Cost-of-Living Crisis Bites

Updated: 16 Sep 2022, 03:02 PM IST
TL;DR.
The pound slid to its weakest level in almost four decades as mounting evidence of a UK recession combines with an ascendant dollar.
A stallholder holds ten pound and five pound banknotes on a market stall arranged in Barking, UK, on Tuesday, Sept. 13, 2022. As the UK enters a period of public mourning after the death of Queen Elizabeth II, data releases are likely to show a temporary reprieve in inflation and a jump in wage growth. Photographer: Chris Ratcliffe/Bloomberg

A stallholder holds ten pound and five pound banknotes on a market stall arranged in Barking, UK, on Tuesday, Sept. 13, 2022. As the UK enters a period of public mourning after the death of Queen Elizabeth II, data releases are likely to show a temporary reprieve in inflation and a jump in wage growth. Photographer: Chris Ratcliffe/Bloomberg