Sterling plunged to a record low against the US dollar early on Monday morning after a raft of tax cuts announced by the Chancellor and higher interest rates knocked international confidence in the currency.
It fell by more than 4% to just 1.0327 dollars in early Asian trading, having already tumbled on Friday in the aftermath of Kwasi Kwarteng’s mini-budget.
It adds to a months-long fall in the value of the pound.
