Pound slides on high UK borrowing cost concern
The British pound slumped more than one percent against the dollar Tuesday on concerns over soaring borrowing costs for the UK government.
Sterling shed 1.2 percent to $1.3388, while the euro gained half a percent on the British currency.
Earlier Tuesday, the yield on 30-year UK government bonds hit the highest level since 1998 owing to worries over Britain's struggling economy.
Source: Agence France Presse
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