January 9, 2025 – Written by David Woodsmith
STORY LINK Pound Sterling Slumps vs euro and Dollar on Truss 2.0 Sell-off
The Pound to Euro (GBP/EUR) and Pound to Dollar (GBP/USD) exchange rates posted sharp losses on Wednesday and there was further selling pressure in Asia on Thursday.
The Pound to Dollar rate dipped sharply to 13-month lows at 1.2240 before a recovery to near 1.2300.
MUFG commented; “Overall, the unfavourable market developments have increased downside risks for the pound at the start of this year and increase…
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