The British pound is collapsing and hitting a record low against the US dollar.
The pound falls to an all-time low against the dollar after taxes were slashed.
New govt. cut taxes to boost growth.
This resulted in depreciation of the pound, prize hike, shaking investor trust and
soaring public debt.
While in US federal reserve raised the interest rates to subdue high inflation.
Dow Jones is at its lowest position (below 30000 points) since 2020.
“We have got to get inflation behind us,” Federal Reserve Chair Jerome H. Powell
said last week. “I wish there were a painless way to do that. There isn’t.”
For British nationals, there is nothing to worry about weaker currency is not
always means to collapses of economy .
It is also good for Americans in Uk as their dollar values have increased.