The value of the pound sterling plunged against the US dollar on Monday to

its lowest level since 1971

after the British Chancellor of the Exchequer,

Kwasi Kwarteng

, hinted yesterday that he does not rule out introducing more tax cuts in addition to those announced last week.

The currency of the United Kingdom lost today at the opening of the market 2.09% against the dollar, up to 1.0568 dollars, 1.54% against the euro, up to 1.0971 euros, and 1.82% compared to the yen, up to 152.0895 yen.

However, early in the Asian market open, the British pound

had already fallen against the dollar by almost 5%

to $1.0327, before subsequently recovering some value, raising fears among analysts that the currency Britain could even reach parity with the US currency by the end of the year.

Last Friday the pound sterling already collapsed after the announcement by the Government of Liz Truss of a massive tax cut program valued at 45,000 million pounds (50,800 million euros), the largest undertaken by the British Government in 50 years.

Then, the pound fell to a low not seen since 1985 after revealing Kwasi Kwarteng that it would lower the highest bracket of income tax, from 45% to 40%, reduce the lowest bracket by one point, and raise corporate tax. , among other measures.

If the minister did not want to assess then what would be the reaction of the markets to his fiscal statement, yesterday he indicated that the cuts "favor citizens of the entire income scale" defending himself against those who reproach him that his cut plan mainly benefits the rich and hinted to the BBC that there could still be more measures of this style. EFE

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