Pound sinks against euro and dollar as tax rises loom and growth slows - short news
Prospect of a tough budget is thought to have brought forward the likely date for a cut in interest rates to 3.75%
The threat of higher taxes in next month’s budget and concerns about slowing economic growth pushed the pound to its lowest level against the euro in more than two and a half years on Wednesday.
Sterling also slumped against the dollar as traders digested news that Rachel Reeves will need to fill a larger hole in the public finances when she puts together her..
source: The Guardian - 29.10.2025