LONDON — The pound is on its longest losing streak against the dollar since the depths of the financial crisis as a perfect storm “unravels” the UK’s currency.
After a strong start to 2018, the pound has slumped in recent months and is traded below $1.27 for the first time in 14 months on Wednesday. Sterling hit a low of $1.2669 during mid-morning trade.
By losing ground on Wednesday, the pound marked 11 consecutive days of losses against the dollar. That is a losing run not seen since 2008 during the depths of the global financial crisis.