Business · 3 August 2026
Why Intervention in Tokyo and Washington Just Sunk the Pound
The UK currency dropped to 211.11 against the yen after authorities in Washington and Tokyo intervened to prop up the Japanese markets. It also slipped against the US dollar to $1.3457 after the Bank of England decided to leave borrowing costs unchanged. Policymakers paused rate changes on Thursday while they wait to see if the war in Iran drives up inflation.
Reported by Reuters · How we write briefs