Pound falls to three-month lows on rate and oil fears
The pound dropped to a three-month low against the dollar as investors worried about high oil prices and persistent inflation. British gilt yields topped six percent for the first time since 1998.
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GBP/USD fell 0.5% to $1.3193 during Thursday's morning session, hitting a three-month low against the dollar. The drop broke the $1.32 mark for the first time since late June amid mounting pressure from rising energy costs. European markets reeled as Brent Crude Oil traded above $100 a barrel, threatening sustained inflation.
