British pound plunges to new low as tax cuts spark concern

British pound plunges to new low

LONDON — The British pound fell to an all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373,...

British pound plunges to new low as tax cuts spark concern

The weakening currency piles pressure on the U.K.'s new Conservative government, which has gambled that slashing taxes - and increasing borrowing to compensate - will spur economic growth. Many economists say it's more likely to fuel already high inflation, push down the pound and drive up the cost of U.K. government borrowing - a potential perfect storm of economic headwinds.

British pound plunges to all-time low as tax cuts spark concern

The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession. The pound fell as low as $1.0373, its ...

British pound slumps to record low as tax cuts spark concern

The British pound tumbled to its lowest level against the U.S. dollar on Monday, falling to $1.0373 before bouncing back to $1.07.

British pound plunges to new low as tax cuts spark concern

By DANICA KIRKA and JILL LAWLESSLONDON (AP) — The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373, its lowest level since the decimalization of the currency in 1971, before rallying to above $1.06 in London late a…

British pound plunges to new low as tax cuts spark concern

By DANICA KIRKA and JILL LAWLESSLONDON (AP) — The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373, its lowest level since the decimalization of the currency in 1971, before rallying to above $1.06 in London late a…