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UK Braces for a Spectacular Economic Disaster as the Pound Nosedives

The pound is taking a pounding in the world of trade market. The pound hit a record low against the dollar and the British currency fell below $1.10 for the first time since 1985 on Monday, 26 September. There was a time when a pound could buy you two American dollars. Now, both currencies are about to hit parity. The fall in sterling pound’s value will make commodities, services and energy more expensive. The IMF is livid at Liz Truss’ government, and said that the “large and untargeted fiscal packages” would “likely increase inequality” in Britain. Do you think the new government in London has messed things up already? Watch to know more. #pound #world #trade #market #record #low #dollar #british #currency #fell #1985 #american #dollar #sterling #pound #value #energy #imf #liz #truss #fiscal #packages #inequality #britain #global #equities #bank #england #damaging #rise #borrowing #costs #bonds #treasury #housing #market #broader #economy #kenneth #broux #societe #generale #currency #strategist #imf #u.s. #treasury #bpts #german #bunds #gilt #prices #amundi #asset #manager #uk #assets #uk #fiscal #credibility #laurent #crosnier #gbp #oil #prices #brent #barrel #finance #minister #kwasi #kwarteng #taxation #national #insurance #mortgage #rates #opposition #labour #party #keir #starmer #stabilise #economy #government #debt #rate #reduce #incentives #turmoil #markets #uk #housing #market #asia #eurasia #global #foreignaffairs #foreignpolicy #WorldNews #news #latestnews #geopolitcs #Firstpost | n18oc_world Subscribe to Firstpost YouTube channel to never miss a video:    / @firstpost   Follow Firstpost on Instagram: @firstpost Follow Firstpost on Facebook: @firstpostin Music credits: "Melodic Trap Beat" by prod. Jahelix    • [Free For Profit] Melodic Trap Beat 2...