Sterling tanks 3%, set for biggest one-day fall since 2020
LONDON, Sept 23 (Reuters) - Sterling GBP=D3 extended its slide on Friday, falling more than 3% to as low as $1.0897, putting it on course for its biggest one-day fall since March 2020 when markets were roiled by the COVID-19 pandemic.
British finance minister Kwasi Kwarteng earlier in the day laid out a plan of historic tax cuts paid for by huge increases in borrowing, which sent British government bonds into freefall and the pound sharply lower.
Reporting by Alun John Editing by Tommy Reggiori Wilkes
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