The British pound dropped on June 15 to its lowest level against the U.S. dollar since March 2020. The plunge reflects concern about the widening gulf between interest rate policies at the Bank of England (BOE) and the Federal Reserve.
The European Central Bank also made a surprising move, with the announcement that it will deliver its first interest rate hike since 2011 next month.
The pound dipped by 0.6 percent against the dollar, to $1.2064, with year-to-date losses at almost 11 percent on foreign exchange markets, as traders reacted to poor figures from the jobs market and the possibility of another referendum on Scottish independence….