Bloomberg The pound slid to its weakest level in almost four decades as mounting evidence of a UK recession combines with an ascendant dollar. Sterling fell as much as 1% to $1.1351, the lowest since 1985. The latest hit was data showing UK retail sales fell at the sharpest pace in eight months in August, as a worsening cost-of-living …

  Bloomberg The Australian dollar tumbled to the lowest level since the early days of the Covid pandemic as risk aversion swept across markets. The Aussie declined 0.4% against the US dollar to 0.6674, the lowest level since 2020. Investors piled into the safe-haven US dollar and sold risky assets after the World Bank reported that the global economy may …

  Bloomberg The global economy may face a recession next year caused by an aggressive wave of policy tightening that could yet prove inadequate to temper inflation, the World Bank said in a new report. Policy makers around the world are rolling back monetary and fiscal support at a degree of synchronization not seen in half a century, according to …