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Sterling tanks 3%, set for biggest one-day fall since 2020

Forex Sep 23, 2022 11:11AM ET
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© Reuters. FILE PHOTO: Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Sterling extended its slide on Friday, falling more than 3% to as low as $1.0897, putting it on course for its biggest one-day fall since March 2020 when markets were roiled by the COVID-19 pandemic.

British finance minister Kwasi Kwarteng earlier in the day laid out a plan of historic tax cuts paid for by huge increases in borrowing, which sent British government bonds into freefall and the pound sharply lower.

Sterling tanks 3%, set for biggest one-day fall since 2020
 

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Comments (5)
Valentinas
Valentinas Sep 23, 2022 8:52PM ET
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Valentinas Timukas
Mario Sanchez
Mario Sanchez Sep 23, 2022 1:02PM ET
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good trend thank you for the profit :)))
Shyam Raja
Shyam Raja Sep 23, 2022 11:16AM ET
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what the hell.bank of england doing why don't they intervene in currency market.see Switzerland, japan,india,korea intervene in currency market.I think
Shyam Raja
Shyam Raja Sep 23, 2022 11:16AM ET
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what the hell.bank of england doing why don't they intervene in currency market.see Switzerland, japan,india,korea intervene in currency market.I think uk is now worst country and all i think
Shyam Raja
Shyam Raja Sep 23, 2022 11:16AM ET
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what the hell.bank of england doing why don't they intervene in currency market.see Switzerland, japan,india,korea intervene in currency market.I think uk is now worst country and all i think
Freddy Seah
Freddy Seah Sep 23, 2022 11:16AM ET
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r u ok? look at BoJ intervention. fighting a tiger with wooden sword.
Freddy Seah
Freddy Seah Sep 23, 2022 11:16AM ET
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r u ok? look at BoJ intervention. fighting a tiger with wooden sword.
Freddy Seah
Freddy Seah Sep 23, 2022 11:16AM ET
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look at BoJ intervention. fighting a tiger with wooden sword.
 
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