British pound falls to lowest level against US dollar since 1985

The pound has plummeted to its lowest level against the US dollar since 1985.

Sterling fell zero points to $1.145 today-a level not seen in 37 years.

The Bank of England said a weaker outlook for the UK economy, as well as a stronger dollar, were putting pressure on sterling.

Bank Governor Andrew Bailey also warned that little could be done to stop the UK from falling into a recession this year as the war in Ukraine continued.