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Al Jazeera
Al Jazeera
Business
John Power

Why is the British pound tanking as the US dollar soars?

The British pound is hovering near record lows against the US dollar [File: Dado Ruvic/Reuters]

As the British pound plummets in value, the United States dollar is flying high.

Against a tumultuous backdrop that includes the Ukraine war, soaring prices and China’s COVID lockdowns, sharp fluctuations of some of the world’s major currencies are injecting new uncertainty into the global economic outlook.

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