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Evening Standard

Business

Rachael Davies

Why is the pound dropping against the dollar and why is the dollar stronger?

Kwasi Kwarteng United States

The pound has sunk to a record low against the dollar, after Liz Truss’s new government announced fresh tax cuts, with Chancellor Kwasi Kwarteng suggesting further cuts are on the way.

As of Monday, September 26, the pound was equal to $1.04.

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