Odds of sterling hitting parity with dollar jump, as analysts say UK bond market ‘getting smoked’ by giveaway
The pound has hit a new 37-year low after the bonanza of tax cuts and spending measures in Kwasi Kwarteng’s mini-budget threatened to undermine confidence in the UK.
Sterling fell to $1.077 in early trading when Asia-Pacific markets opened after the weekend, closer to parity with the US dollar.
