UK’s Market Woes Shift to Pound With Currency at One-Year Low

(Bloomberg) -- As broad selling took hold in UK markets for a fourth day, focus turned to the pound after it fell to the lowest level in over a year. Most Read from Bloomberg Concern that the Labour government will struggle to keep the nation’s deficit in check amid higher borrowing costs pushed sterling down as much as 1% on Thursday to $1.2239. That’s the weakest level since November 2023. The currency move followed a surge in gilt yields earlier this week to the highest levels in years...