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Truss Gets Unwelcome Thatcher Comparison With Pound at 1985 Low

  • Currency slides as UK growth outlook dims, greenback rallies
  • Pound has weakened nearly 15% this year against the dollar
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Tough to Find ‘Significant Reasons’ to Be Long Sterling: CIBC
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On her first full day on the job, UK Prime Minister Liz Truss has managed to evoke the memory of Margaret Thatcher in at least one regard: the sterling-dollar exchange rate.

The pound slid as much as 1% in Wednesday trading to $1.1406, the lowest level since 1985, when Truss’s role model was midway through her 11-year stint in power.