The pound rebounds after falling to an all-time low the day before

The pound sterling rebounded more than 1.25% against the dollar on Tuesday, after having plunged the day before to an all-time low in reaction to a massive government spending plan which raised fears of a slippage in public finances.

The pound gained 1.27% to 1.0825 on Tuesday around 8 a.m.

The British currency had set a new all-time low overnight from Sunday to Monday, plunging to $1.0350.