USD / British Pound

US dollars per British pound sterling. The pound has declined structurally against the dollar since the 1970s as UK relative economic weight has diminished. Brexit drove the largest sustained sterling selloff since Black Wednesday (1992). The September 2022 "mini-budget" crisis — when GBP fell to its all-time low of $1.03 — was the most dramatic UK fiscal credibility shock since the 1976 IMF bailout.