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Pound plunges to 37-year low as investors question tax cuts

The pound has fallen to a fresh 37-year low against the dollar as financial markets reacted to the biggest tax-cutting moves in 50 years.

The pound fell more than 3 percent against the dollar, dropping below $1.9.

UK stocks also dropped after chancellor Kwasi Kwarteng outlined a series of tax cuts and economic measures in a massive shake-up of the country's finances.

 



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