British pound falls following tax cuts

On Monday, the British pound reached a record low against the United States dollar, reflecting a very unfavourable appraisal of the new government.

The British government has been dealing with rising public debt and a cost-of-living issue, and investor confidence has been declining.

It has prompted speculation that the Bank of England would step into the foreign exchange market to support the pound.

The strength of the US dollar, helped by rising interest rates, is reflected in the decline of the GBP.


Additionally, the pound's decline versus the euro reflects heightened anxiety about the state of the British economy.

The decline in value of a currency is not always indicative of a faltering economy.
Since of this, export-focused businesses may benefit from a weak pound .


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