British pound to 40-year low against US dollar

British pound to 40-year low against US dollar

The British pound has resumed a slide against the US dollar after Britain’s new government outlined plans to cut taxes and boost spending, reports Aljazeera. On Monday morning, the pound fell by as much as five percent against the dollar at one point touching $1.0327, its weakest at least since the introduction of decimalisation in the early 1970s. The government’s tax-cut plan has...

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