The pound has fallen to a record low against the dollar as markets react to the UK’s biggest tax cuts in 50 years.
In early Asia trade, sterling slipped just below $1.04 – the lowest level since decimalisation in 1971 – before regaining some ground to about $1.05.
That came after Chancellor Kwasi Kwarteng unveiled historic tax cuts funded by huge increases in borrowing.
Full story: https://www.bbc.com/news/business-63030208