The drop comes as investors react to the new government’s fiscal plan The British pound sterling plunged nearly 5% to an all-time low against the US dollar on Monday. The currency lost as much as 4.85%, dropping to an unprecedented $1.0327 and extending a 3.61% plunge recorded on Friday. Market analysts say the drop has been brought about by the announcement of a ‘mini-budget’ last week by finance minister Kwasi Kwarteng, which entails historic tax cuts and the biggest increase in borrowing in over 50 years. “Sterling is in the firing line as traders are turning their backs on all things British. There is a creepi
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