Pound falls on UK fiscal concerns

The EURGBP cross extended its upside to near 0.8375 in early European trading on Friday. The Pound Sterling remains under selling pressure amid concerns about the UK’s fiscal outlook and the Bank of England’s ability to control inflation. The significant depreciation of the GBP came after a rise in the yields of the UK benchmark 10-year treasury bonds to their highest level since 2008. The high costs of UK debt have raised significant concerns about the financial situation in the UK, resulting in a sharp decline in the British pound. Bank of England Deputy Governor Sarah Breeden said on Thursday

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Pound falls on UK fiscal concerns

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