9/7/2022, 4:52 PM (Source: TeleTrader)
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Pound drops to lowest point against dollar since 1985

The British pound briefly fell to its lowest level against the dollar since 1985 on Wednesday, as the United Kingdom's economic prospects remained dim, in the wake of high inflation, rising energy prices and ongoing conflict in Ukraine.

The country has recently gone through a tumultuous political situation, as former British Prime Minister Boris Johnson has been replaced by new Prime Minister Liz Truss this Monday.

After shortly hitting its lowest value in 37 years at $1.14049, the pound lost 0.39% against the dollar at 4:51 pm CET, selling for $1.14667.

Baha Breaking News (BBN) / AY