The pound is heading for its biggest six-month drop against the US dollar since 2016, the year of the Brexit referendum. Sterling had fallen 0.46% to $1.2127 by mid-afternoon on Wednesday, its lowest level since 16 June, when the Bank of England raised its key policy rate by 25 basis points to 1.25%. The pound has fallen more than 10% against the dollar this year, its performance hampered by fears of a major economic slowdown, surging inflation, and growing uncertainty about the consequences of Brexit. Also on Wednesday, Swati Dhingra, who will become a Bank of England policy-maker in August, said there is room for a ... (full story)