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Reeves has questions to answer as sterling drops
The Herald|January 14, 2025
THE pound has remained under pressure amid an intensifying sell-off in government bonds as the Chancellor faces mounting questions over her fiscal rules.
Reeves has questions to answer as sterling drops

Sterling fell another 0.5% to 1.214 US dollars yesterday, having last week hit its lowest level against the dollar since November 2023, and with government borrowing costs rising ever higher.

UK government bonds - known as gilts - continued to see 10-year yields hit fresh highs not seen since 2008, up six basis points at 4.9%. The yield on 30-year gilts also hit new 27-year highs, up five basis points at 5.5%.

Yields move inversely to bond prices.

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Reeves has questions to answer as sterling drops
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