Pound sterling at lows against dollar, fears of recession

The pound sterling hit a record low against the dollar on Monday, September 26, with budget announcements from London worrying investors about the health of British public finances, in a country that may already be in recession.

Faced with a resilient dollar thanks to its safe haven status, the pound plunged to $1.0350 around 0125 GMT, Bloomberg data showed, with analysts warning it could even hit parity with the greenback.