Business · 27 August 2026
Pound falls to one-week low as traders doubt interest rates will rise
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The currency dropped against the dollar and euro on Thursday after financial markets decided borrowing costs probably won't increase in 2026. Traders now share the view of economists that the Bank of England will hold steady, avoiding extra strain on the UK economy. Attention is also shifting to parliament next week, where Andy Burnham's administration must figure out funding for its October budget.
Reported by Reuters · How we write briefs