Pound slides to two-year low against the dollar

Investors flock to the safe haven dollar over concerns about the outlook for UK economic growth.

The pound has fallen to a two-year low against the dollar reflecting traders increasing concerns about recession around the world as energy prices continue to soar.Sterling could fall even further after predictions of economic stagnation and as inflation rises, they added.

"Now many people are worried about recession - recession in the US, recession in Europe, and of course we've got our cost of living crisis here in the UK," Ms Foley said. The FTSE 100 stock market in London fell nearly 3% on Tuesday before rising by more than 2% in early trading on Wednesday. The recent fall in sterling also came about by the UK government "aggravating the Northern Ireland protocol", Mr Godber said.

Chancellor Nadhim Zahawi, who was appointed to the role on Tuesday, said Prime Minister Boris Johnson's focus was on "delivering".

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BBCNews /  🏆 3. in UK

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Holloway says Volkanovski is best pound-for-pound MMA star and backs 155lb title bidFormer UFC featherweight champion Max Holloway kept it classy when he reacted for the first time to his latest loss against Alexander Volkanovski. ‘The Great’ proved to be one of the top pound-for-…
Read more »

Northampton sign Bournemouth defender SherringNorthampton Town sign Bournemouth centre-back Sam Sherring on a two-year contract.
Read more »

Man Utd Women sign forward Adriana LeonManchester United Women have signed forward Adriana Leon from West Ham on a two-year deal. The Canada international spent three-and-a-half seasons in east...
Read more »

Dylan Holliday murder accused used knife 'to keep aggressor at bay'Two teenagers deny the murder of 16-year-old Dylan Holliday, who had 13 stab wounds.
Read more »

Holloway says Volkanovski is best pound-for-pound MMA star and backs 155lb title bidFormer UFC featherweight champion Max Holloway kept it classy when he reacted for the first time to his latest loss against Alexander Volkanovski. ‘The Great’ proved to be one of the top pound-for-…
Read more »