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British pound hits record low, then pares losses, as investors react to tax-cut plan

Por: MarketWatch Business September 26, 2022

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The pound dropped to $1.0850 after the announcement – the lowest level since 1985 and the third worst daily performance since Black Wednesday in 1992, Deutsche Bank analysts noted, topped only by the day the U.K. voted to leave the European Union and when global markets reacted to the emergence of the pandemic in March 2020. Daily percentage moves in Sterling vs the U.S. Dollar Deutsche Bank, GFD Investors were further shaken through the... + full article



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