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Pound to Dollar Rate at New Lows

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The Pound to Dollar exchange rate has slid to fresh post-1985 lows amidst a fresh onslaught by the U.S. Dollar.

The Dollar surged against the Pound, Euro and all other major currencies ahead of the weekend, continuing a well-understood trend of appreciation.

The gains came as global stock markets slumped, confirming safe-haven demand was a key driver of the Greenback’s gains.

Markets continue their slide as investors adjust for rising funding costs as the Federal Reserve hikes interest rates.

This dries up liquidity on a global scale, raising the value of the Dollar.

Additional support for the currency comes as investors seek out U.S. assets which offer superior yields thanks to the Fed’s policy of hiking interest rates at a faster clip than elsewhere.

Above: The Dollar’s dominance continues.

The Pound to Dollar exchange rate fell 0.90% to 1.1166, taking dollar payment rates on bank accounts to below 1.10…

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