The pound has dropped to its lowest value against the dollar since November 2023, falling to $1.21 as the government borrowing costs continued to rise.
The yield on 10-year gilts has hit 4.89%, its highest level in nearly two decades, while 30-year gilts have risen to 5.5%, marking a 27-year high.
Investors' reactions to the re-election of Donald Trump and concerns over persistent inflation have led to a rise in UK government borrowing costs.
Emma Wall argued that the UK's issues are not solely due to global factors, stating, 'If you can get inflation under control, you will see interest rates come down in the UK.'
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