The pound fell to its lowest levels against the dollar since early July on Thursday, after being overshadowed by the continued rise of the US currency in the wake of Donald Trump’s victory in the US elections.
These developments are flooding British news for investors, although they will be watching Finance Minister Rachel Reeves’ first speech before the leaders of the Financial District in London, as well as statements by Bank of England Governor Andrew Bailey.
Reeves previously said she wanted Britain to build a pool of “mega funds” with up to 80 billion pounds ($102 billion) of new investment power under plans for the biggest shake-up of British pensions in decades.
The pound sterling fell 0.6% against the dollar to 1.2632, its lowest level since July 2, after falling to its lowest level in early August in mid-morning trading in London. This move was largely in line with other currencies.
