Business · 2 September 2026
Pound falls to three-week low against the dollar over Middle East fears
Photo by Leo Roberts on Unsplash
The currency dropped to $1.3490 on Wednesday, its weakest level since mid-August, as investors worried about US and Iranian military clashes. UK government borrowing costs also hit their highest point in 18 years, causing a headache for finance minister John Healey before his October budget. Financial markets expect the Bank of England to hold its main interest rate steady at 3.75% this month.
Reported by Reuters · How we write briefs