British pound plunges to record low against dollar

Friday, 26 Sep, 2022 0

Good news for foreign travellers planning London trips.

The pound sterling has plunged to a record low against the dollar as the UK announced sweeping tax cuts

In early trading, sterling was almost at to the dollar at $1.03 before recovering to about $1.07.

It means more expensive transatlantic trips for Brits.

Inflation in the UK is at a 40-year high of 9.9%.

The poorly performing pound may lead to even higher energy bills despite the government recently announcing a cap on prices.

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Ray Monty



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