British Pound falls to record low against the US Dollar

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  • Sterling fell to $1.1407 in afternoon trade in London — a level not seen in 37 years — as investors responded to the U.K.’s darkening economic landscape with a new prime minister at the helm.
  • British Prime Minister Liz Truss was officially appointed Tuesday after succeeding Boris Johnson in a closely fought leadership contest.
  • She inherits an economy in the throes of its worst cost-of-living crisis in a generation, with inflation hitting 10.1% in July.

www.cnbc.com/2022/09/07/british-pound-falls-to-its-lowest-level-against-the-dollar-since-1985.html

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