Business · 2 hours ago
Pound drops to a near three-month low against dollar and euro
The currency slipped to $1.322 on Friday, finishing its largest weekly decline since May. Traders are buying up the US dollar because strong American growth and rising Middle East energy costs make further American interest rate rises likely. Meanwhile, the Bank of England kept borrowing costs on hold last week, leaving British assets looking less attractive to investors.
Reported by Reuters · How we write briefs