Pound slides on high UK borrowing cost concern

by Naharnet Newsdesk 02 September 2025, 15:15

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.

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