BBCNEWS BBC News June 4, 2024 14:10:00
It's at a 40 year high, leaving many households facing hardship. since the government's announcement today, the pound has fallen sharply against the us dollar as investors digest the biggest tax cutting budget in 50 years. 0ur economics correspondent, andy verity, has this analysis. if the markets believed the biggest tax cuts in 50 years were going to boost economic growth, you might expect the pound to strengthen. but foreign currency markets gave it a decidedly grumpy response. the pound, already at its lowest since 1985, dropped 2% to $1.10, which will make it even more expensive for the g...