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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe and Graeme Wearden

Pound dips to 14-month low as bond sell-off piles pressure on Rachel Reeves

Rachel Reeves ING United Kingdom Chris Turner Kwasi Kwarteng Liz Truss Martin Weale Michael Brown
Rachel Reeves in front of a video camera
The chancellor, Rachel Reeves insists she has an ‘iron grip’ on the public finances. Photograph: Ben Birchall/PA

The pound briefly fell to a 14-month low against the US dollar on Thursday morning after the sell-off in the bond market fuelled investors’ anxiety about UK assets and piled further pressure on the chancellor, Rachel Reeves.

Sterling extended recent losses against the US dollar, falling by a cent at one point, before recovering to trade half a cent down at $1.23.

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