The British pound has fallen to its lowest level since 1985 against the U.S. dollar, reaching $1.1443 Monday before recovering to trade up slightly before noon London time, and investors are expecting sterling to weaken to points not seen in more than 200 years of trading between the two countries.
According to FactSet, the pound traded up by 0.1%, reports The Wall Street Journal, with the decline coming in part because of the rally of the U.S. dollar, which also has pushed the Japanese yen and the euro in recent days to lows not seen in decades.
The pound’s decline also comes as economic woes in the United Kingdom grow, including skyrocketing energy prices expected this winter and uncertainty over what economic policies incoming Prime Minister Liz Truss will institute.
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