Pound Sterling Plummets Against Dollar Amid UK Fiscal Concerns

The British pound has fallen to its lowest level in nearly eight weeks against the US dollar due to rising concerns over UK fiscal health.

The sharp jump in public sector borrowing for August, reaching GBP 18.26 billion, has weighed on sentiment and contributed to the decline.

The current price of GBP/USD is $1.3274, with all major moving averages aligning bearish, reinforcing broad selling pressure across short-, medium-, and long-term trends.