The British pound has slumped to its lowest value against the US dollar since 1985 when Margaret Thatcher was prime minister and David Bowie and Mick Jagger were number one in the singles charts.A looming recession, a disastrous energy crunch and the highest inflation among G7 nations has sent the pound sinking over the past year.It tumbled another half percentage point to a low of US$1.1406 on Wednesday, sinking below its March 2020 low when the COVID pandemic erupted onto the global stage.
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