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Pound Sinks to Lowest Level Since 2023 - Treasury Releases Statement

January 9, 2025

By Evans Momodu
1 minute read


The pound has dropped to $1.22, its lowest level since November 2023, intensifying concerns over the UK’s economic health.

This sharp decline follows a series of fiscal challenges, including rising government borrowing costs and surging gilt yields.

In response to the market volatility, the Treasury released a statement acknowledging the situation and reiterating its commitment to “responsible fiscal policy to restore economic stability.” Officials emphasized ongoing efforts to reduce debt and support growth, though they offered no new policy measures.

Meanwhile, in lighter financial news, the Money blog continues its popular Cheap Eats Thursday feature, where top chefs from across the UK share affordable recipes and culinary tips to help readers enjoy gourmet meals on a budget.
Source: Sky news