BBC: The pound has fallen to a fresh 37-year low against the dollar as markets react to the biggest tax cutting budget in 50 years.
UK stocks also slid after Kwasi Kwarteng outlined a series of tax cuts and economic measures in a massive shake-up of the country's finances.
The pound dropped by nearly 2% against the dollar, putting it close to $1.10.
Sterling has been falling in recent weeks, partly down to the strength of the US dollar. However, sterling also fell against the euro on Friday, with the pound down more than 1% at €1.12.
Meanwhile, the UK's FTSE 100 of major shares fell to its lowest level for more than two months. » | Noor Nanji, Business reporter, BBC News | Friday, September 23, 2022
Kwarteng’s voodoo economics spooks markets. – © Mark Alexander
