Rabobank Head of FX Strategy Jane Foley says the pound looks "extremely vulnerable" and susceptible to "a lot of volatility" until at least Nov. 23, when the government announces a medium-term fiscal plan alongside an economic forecast by the independent Office for Budget Responsibility.
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Russian Sanctions
The Russian economy has been impacted by a raft of global sanctions as world leaders try to pressure Vladimir Putin to end the war in Ukraine.
Global Inflation Concerns
Inflation across the developed world is surging, with the rising cost of living expenses at the highest level since the 1980s.