Pound Tumbles, UK Bonds Lead Rally on Darkening Economic Outlook

Sterling weakened as much as 0.6% versus the dollar on Tuesday, leading losses among the Group-of-10.

Pound Tumbles, UK Bonds Lead Rally on Darkening Economic Outlook

Mounting signs the UK economy has lurched into a recession are casting doubt on how far the Bank of England will be able to keep raising interest rates, adding pressure on the pound and fueling a rally in government bonds.

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