The British Pound  has  dropped to a  historic low  compared to  the Dollar

On Monday, the British pound  fell versus the US dollar.

It dropped more than 4% to $1.035, a new low. On  Monday, trading began in  Asia and Australia.

 High quantities of debt  were accumulated at a  period of rising interest rates.

A 6% drop from Friday, with predictions of parity with  the pound and the US dollar  in the following months.

Chancellor of the Exchequer  Kwasi Quarting made the statement on Friday that the  UK would simultaneously  enact the largest tax cuts  in 50 years.

The manufacturing PMI  touched 51 on July 6.  The euro also dropped to  a 20-year low of 0.964.

 In addition, the euro fell  to a 20-year low of  0.964 per dollar. The last  low for the British pound  versus the US dollar  happened on February  25, 37 years ago.

On December 12, 1985, one  pound was worth $1.9528  per euro. 

The Japanese yen declined in value  by 0. Despite this, the pair  climbed 1.6 percent to  144 versus the US dollar.

On Monday, the yen fell  14 percent versus the  US dollar, going below  the 1,420 mark for the  first time since 2009.

Source: Google

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