
The British pound fell to its lowest since late 2023 on Thursday, extending losses from recent days, coming amid pressure from a selloff in global bonds that has driven the U.K. government's borrowing costs to their highest in over 16 years, which has reignited concern about U.K. finances. Sterling was last down 0.6% at $1.2295, having touched its lowest since November 2023 earlier in the day, while the cost of hedging against bigger price swings over the coming month jumped to its highest since the March 2023 banking crisis. Global...