British pound falls to lowest level since 1985 as economic pain in Britain deepens

The British pound fell to its lowest level against the US dollar since 1985, a reflection of Britain’s dire economic situation. Investors are braced for the pound to weaken further to a nadir not seen in more than two centuries of transatlantic trade.

The pound fell as low as $1.1443, its lowest level since 1985, according to the Fact set, before rising to trade up 0.1% midday London time on Monday. Sterling’s descent is partly a side effect of the relentless US dollar rally, which has driven both the euro and the Japanese yen to multi-decade lows in recent days.