British pound hits record low vs dollar

The value of the pound has hit a new record low when measured against the dollar.


It's a reflection of the jitters in the financial markets caused by the emergency budget measures outlined by Prime Minister Liz Truss last week.

Investors are worried because a large-scale package of tax cuts would require the government to borrow billions of more dollars.

Even if Truss thinks that cutting taxes (particularly on the rich) would encourage families to save more money, economists have pointed out that this might affect the U.K.

The value of the pound versus the dollar has fallen to a record low.Financial markets are showing signs of concern about new Prime Minister Liz Truss'.

A massive tax reduction plan that might cost the government tens of billions of pounds in additional borrowing has scared off investors as it seems like a high-stakes.


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