The pound is hurtling in direction of its largest six-month drop towards the US greenback for the reason that Brexit referendum in 2016.
Sterling fell a whopping 0.46% to $1.2127 by mid-afternoon on Wednesday.
That is its lowest degree since 16 June, when the Financial institution of England raised its key coverage charge by 25 foundation factors to 1.25%.
Sky Information experiences the pound is down greater than 10% towards the greenback this 12 months, due to efficiency hampered by a robust US foreign money but additionally fears of a significant UK financial slowdown, surging inflation, and rising uncertainty concerning the penalties of Brexit.
