Jonathan Cook
on October 30th, 2025 The pound fell to its lowest in months against the US dollar and its lowest in years against the euro across the middle of this week. Two main factors have contributed to this: first, the autumn Budget will be painful and might include tax rises to offset the productivity downgrade. Second, the Bank of England are expected to turn dovish as inflation cools and the growth outlook worsens.
GBP/USD: the past year
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