No there's a surprise... 📉 Following Liz Truss's speech at the Tory Party conference, the pound dropped once again, and continued to slide during the afternoon.
It continued to slide during the afternoon, dropping again to roughly $1.12, with Government borrowing costs up and gild-yields up, too.
The pound has plummeted to its lowest level against the dollar since decimalisation more than 50 years ago.It slumped after the ‘mini-budget’, then fell by more than 4% in early trading markets on Monday, September 26.$1.03 was the currency’s lowest rate since 1971.The issue raised government borrowing costs and sparked a rise in mortgage rates.
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