British pound falls to its lowest level against the dollar since 1985
U.K. inflation is running at the fastest pace since the early 1980s.
Bloomberg | Bloomberg | Getty Images
The British pound plummeted on Wednesday to its lowest level against the U.S. dollar since 1985.
Sterling fell to $1.14 in afternoon trade — a level not seen in 37 years — as investors responded to the U.K.’s darkening economic landscape with a new prime minister at the helm.
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