Updated Sept. 4, 2022 5:41 pm ET
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The British pound slid to its lowest level against the U.S. dollar since 1985, a reflection of the U.K. economy’s dire economic situation. Investors are braced for sterling to weaken even further to a nadir not seen in more than two centuries of trading across the Atlantic.
The pound fell 0.3% in early Monday trading in Asia to $1.1475, according to FactSet. That is the lowest since 1985. Sterling’s descent is in part a side effect of the relentless U.S. dollar rally, which has driven both the euro and Japanese yen to multidecade lows in recent days.
This article was written by and originally published on www.wsj.com