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Evening Standard
Evening Standard
Business
Jonathan Prynn

Pound slumps to 37-year low as UK interest bill soars to record £8.2 billion

United Kingdom Britain US Federal Reserve

The markets are on a knife edge waiting for announcements from the Fed and Bank of England

(Picture: AFP via Getty Images)

The pound slumped to a new 37-year low today after the latest official figures showed the interest payment on Britain’s public debt ballooned to a record £8.2 billion last month.

In early trading sterling was down half a cent against the dollar at $1.1334, a level not seen since it flirted with parity in 1985.

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