The pound fell 4.6% in August, having lost 14% so far this year, as concerns about the state of the British economy grow. Thursday afternoon it hovered just above $1.15. The news wasn’t much better against the euro – August was sterling’s worst month there since May 2021 and on Thursday it fell to 86.7p. It comes after UK inflation topped 10% in July – the latest rate available and the highest in 40 years – squeezing the wages of households who are also facing record rises in energy bills. Viraj Patel, global macro strategist at Vanda Research in London, told Reuters news agency: “It looks like a perfect storm right now for the pound. “There’s this whole ‘sell Europe, sell the UK’ thing going on at the moment and it’s getting quite extreme given the myriad of political and energy risks. “There is also a Liz Truss risk premium that is starting to cost. “Clearly the market is not responding well to some of the policies that Truss has announced, especially the financing of the UK’s twin deficits.” Read more: Consumer confidence hits rock bottom amid ‘sharp concerns’ about cost of living Inflation hits double digits, surges to new 40-year high as cost-of-living crisis deepens Liz Truss, the foreign secretary, is widely expected to replace Boris Johnson as prime minister when the result of the leadership contest is confirmed on September 5. But it’s not just the UK’s political and economic situation that is hurting the pound – it’s also against a very strong US dollar. The dollar hit a 24-year high against the Japanese yen on Thursday and gained more than 1.2% against the euro. Michael Hewson, chief market analyst at CMC Markets, said of the pound’s struggles: “It’s not just sterling weakness – it’s a strong dollar story. “Sterling has its problems, but they are not unique to it – high inflation, rising energy prices and falling disposable incomes.”

title: “Rising Us Dollar Pushes Pound To Biggest Monthly Drop Since 2016 Business News Klmat” ShowToc: true date: “2022-10-31” author: “Lettie Wilson”

The pound fell 4.6% in August, having lost 14% so far this year, as concerns about the state of the British economy grow. Thursday afternoon it hovered just above $1.15. The news wasn’t much better against the euro – August was sterling’s worst month there since May 2021 and on Thursday it fell to 86.7p. It comes after UK inflation topped 10% in July – the latest rate available and the highest in 40 years – squeezing the wages of households who are also facing record rises in energy bills. Viraj Patel, global macro strategist at Vanda Research in London, told Reuters news agency: “It looks like a perfect storm right now for the pound. “There’s this whole ‘sell Europe, sell the UK’ thing going on at the moment and it’s getting quite extreme given the myriad of political and energy risks. “There is also a Liz Truss risk premium that is starting to cost. “Clearly the market is not responding well to some of the policies that Truss has announced, especially the financing of the UK’s twin deficits.” Read more: Consumer confidence hits rock bottom amid ‘sharp concerns’ about cost of living Inflation hits double digits, surges to new 40-year high as cost-of-living crisis deepens Liz Truss, the foreign secretary, is widely expected to replace Boris Johnson as prime minister when the result of the leadership contest is confirmed on September 5. But it’s not just the UK’s political and economic situation that is hurting the pound – it’s also against a very strong US dollar. The dollar hit a 24-year high against the Japanese yen on Thursday and gained more than 1.2% against the euro. Michael Hewson, chief market analyst at CMC Markets, said of the pound’s struggles: “It’s not just sterling weakness – it’s a strong dollar story. “Sterling has its problems, but they are not unique to it – high inflation, rising energy prices and falling disposable incomes.”

title: “Rising Us Dollar Pushes Pound To Biggest Monthly Drop Since 2016 Business News Klmat” ShowToc: true date: “2022-10-26” author: “Sidney Henderson”

The pound fell 4.6% in August, having lost 14% so far this year, as concerns about the state of the British economy grow. Thursday afternoon it hovered just above $1.15. The news wasn’t much better against the euro – August was sterling’s worst month there since May 2021 and on Thursday it fell to 86.7p. It comes after UK inflation topped 10% in July – the latest rate available and the highest in 40 years – squeezing the wages of households who are also facing record rises in energy bills. Viraj Patel, global macro strategist at Vanda Research in London, told Reuters news agency: “It looks like a perfect storm right now for the pound. “There’s this whole ‘sell Europe, sell the UK’ thing going on at the moment and it’s getting quite extreme given the myriad of political and energy risks. “There is also a Liz Truss risk premium that is starting to cost. “Clearly the market is not responding well to some of the policies that Truss has announced, especially the financing of the UK’s twin deficits.” Read more: Consumer confidence hits rock bottom amid ‘sharp concerns’ about cost of living Inflation hits double digits, surges to new 40-year high as cost-of-living crisis deepens Liz Truss, the foreign secretary, is widely expected to replace Boris Johnson as prime minister when the result of the leadership contest is confirmed on September 5. But it’s not just the UK’s political and economic situation that is hurting the pound – it’s also against a very strong US dollar. The dollar hit a 24-year high against the Japanese yen on Thursday and gained more than 1.2% against the euro. Michael Hewson, chief market analyst at CMC Markets, said of the pound’s struggles: “It’s not just sterling weakness – it’s a strong dollar story. “Sterling has its problems, but they are not unique to it – high inflation, rising energy prices and falling disposable incomes.”

title: “Rising Us Dollar Pushes Pound To Biggest Monthly Drop Since 2016 Business News Klmat” ShowToc: true date: “2022-11-18” author: “Courtney Wright”

The pound fell 4.6% in August, having lost 14% so far this year, as concerns about the state of the British economy grow. Thursday afternoon it hovered just above $1.15. The news wasn’t much better against the euro – August was sterling’s worst month there since May 2021 and on Thursday it fell to 86.7p. It comes after UK inflation topped 10% in July – the latest rate available and the highest in 40 years – squeezing the wages of households who are also facing record rises in energy bills. Viraj Patel, global macro strategist at Vanda Research in London, told Reuters news agency: “It looks like a perfect storm right now for the pound. “There’s this whole ‘sell Europe, sell the UK’ thing going on at the moment and it’s getting quite extreme given the myriad of political and energy risks. “There is also a Liz Truss risk premium that is starting to cost. “Clearly the market is not responding well to some of the policies that Truss has announced, especially the financing of the UK’s twin deficits.” Read more: Consumer confidence hits rock bottom amid ‘sharp concerns’ about cost of living Inflation hits double digits, surges to new 40-year high as cost-of-living crisis deepens Liz Truss, the foreign secretary, is widely expected to replace Boris Johnson as prime minister when the result of the leadership contest is confirmed on September 5. But it’s not just the UK’s political and economic situation that is hurting the pound – it’s also against a very strong US dollar. The dollar hit a 24-year high against the Japanese yen on Thursday and gained more than 1.2% against the euro. Michael Hewson, chief market analyst at CMC Markets, said of the pound’s struggles: “It’s not just sterling weakness – it’s a strong dollar story. “Sterling has its problems, but they are not unique to it – high inflation, rising energy prices and falling disposable incomes.”