UPDATE: sterling now down well below $1.11 against dollar. Now closer to $1.10.
When @KwasiKwarteng began his speech it was around $1.12. pic.twitter.com/yyy6E9QNQV

— Ed Conway (@EdConwaySky) September 23, 2022

Pound now down to $1.092 vs US$.
That’s a more than 3% fall today.
And still dropping.
This is… unnerving. pic.twitter.com/VIjM6x7FOI

— Ed Conway (@EdConwaySky) September 23, 2022

A brutal, brutal day for sterling.
Seems to have settled around $1.09 for the time being tho.
By my reckoning this is now one of the top ten worst days for the pound (vs basket of other currencies) since 2004.
Not the league table the Chancellor would have wanted to join today… pic.twitter.com/zuJE9yby8W

— Ed Conway (@EdConwaySky) September 23, 2022