The pound has slumped to a near 40-year low against the dollar, pushing the currency below pandemic levels to $1.144 as markets take fright at the UK’s economic prospects and energy crisis.
Sterling touched $1.1444 in early trading in Asia, taking the collapse in the pound’s value against the world’s reserve currency to 14 per cent so far this year.
The euro also slid against the rampant dollar, falling below 99 cents for the first time in almost 20 years. Russia’s indefinite suspension to natural gas supplies through the Nord Stream 1 pipeline, blamed on a fault with a turbine, saw the Dutch TTF, the leading European benchmark, surge by almost a third as trading reopened this morning.
Meanwhile, the US dollar index, which measures
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2022-09-05 15:00:00Z
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