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The National (Scotland)
The National (Scotland)
National
Laura Webster

Pound hits 37-year low as markets spooked by Chancellor's mini-budget

An aerial view of the City of London

THE pound hit a new 37-year low following Kwasi Kwarteng’s £45 billion tax cut announcement on Friday.

Sterling fell sharply in the wake of the announcement, dropping under $1.11 against the US dollar for the first time since 1985.

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