UK mini budget fallout continues as pound ‘tanks to all time low’ against US dollar

Sky News Business Editor Ross Greenwood says markets have “been in turmoil” since the United Kingdom’s announced new tax cuts.

“It was seemingly a complete U-turn, especially from the Bank of England and tis policy to raise interest rates and tighten the UK economy and head off inflation,” he said.

“The pound, well, it tanked to all time lows against the US dollar, markets around the slumped fearing a deep recession.”

Mr Greenwood said there had been “another surprise” as the Bank of England announced it would be buying bonds to be able to “pump even more money” into…

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Written by Bourbiza Mohamed

I have 26 years of experience as a professional writer and editor and have been working as a full time freelancer since 2011. I am originally from Casablanca, Morocco, and I graduated from Qatar University with a degree in journalism. I have worked for newspapers, magazines, news agencies, websites. I speak fluent Arabic, French, English, Russian and Spanish.

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