Mumbai, Sept. 3 -- British pound lingers around a one-month low against the dollar following a 1% plunge in the previous session. GBP/USD is currently quoting at $1.3375, down marginally on the day. Yesterday, the counter tumbled around 1% as UK's 30-year gilt climbed to their highest level in nearly 3 decades. UK's thirty-year gilt yields touched a peak of 5.680%, up about four basis points on the day, their highest since May 1998 over concerns of a widening UK budget deficit due to UK Chancellor Rachel Reeves' decision to increase borrowing in last year's budget, in turn increasing the "risk premium" on longer-term gilts because of uncertainty over its rising debts. The Bank of England (BoE) Sarah Breeden is set to speak later on Wednes...
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