Investors spooked at the prospect of unfunded tax cuts announced in the chancellor’s budget statement, sending the pound close to its weakest point since before 1985. Sterling fell 3.2 percent against the dollar to $1.0895, after Chancellor Kwasi Kwarteng introduced £140 billion worth of tax cuts to boost growth. The pound fell to $1.05 in 1985 when the US was forced into an international currency devaluation agreement. The UK benchmark 10-year bond yield,
