Pound hits a six-month low
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE POUND hit a six-month low against the dollar yesterday amid renewed speculation about interest-rate cuts. Sterling fell to $1.6188, its lowest level since mid-August, before clawing back ground to close at $1.625.
Analysts said growth expectations were driving the pound down against the dollar.
Wednesday's downbeat Bank of England Inflation Report paved the way for further reductions in UK interest rates, according to economists. Sean Callow at IDEA, the economic forecasters, said: "We take the report as leaving open the prospect for further easing [in UK rates]. That's negative for sterling".
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments