Pound falls to weakest level since 1985 against the US dollar

Sterling fell as much as 1% to $1.1410, a level last seen in 1985, when Margaret Thatcher was prime minister. Much like then, the economic outlook is challenging. Britain is grappling with the dual threats of double-digit inflation and the prospect of a long economic contraction. The Bank of England is warning of more than a year of recession.

Pound falls to weakest level since 1985 against the US dollar
Sterling fell as much as 1% to $1.1410, a level last seen in 1985, when Margaret Thatcher was prime minister. Much like then, the economic outlook is challenging. Britain is grappling with the dual threats of double-digit inflation and the prospect of a long economic contraction. The Bank of England is warning of more than a year of recession.