Pound slips as UK gilt yields hit highest since 2008
Sterling dipped against the dollar on Tuesday as a global bond selloff pushed UK borrowing costs to their highest level since 2008. The currency fell amid rising oil prices and renewed inflation concerns following U.S. and Iranian hostilities.
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Sterling slipped 0.07% to 1.35395 against the dollar on Tuesday as a global bond selloff pushed United Kingdom borrowing costs to their highest level since 2008. The currency drop followed a renewed escalation in United States–Iran hostilities that revived global inflation concerns. The move leaves the currency about 1% below the six-month high of $1.36745 reached late last month.
