Most global currencies have sinked against the dollar as investors bet on more aggressive rate hikes from the Federal Reserve.
But the pound also plummeted 3% against the euro last month, as inflation reached a staggering 10.1% in the UK in July. The Bank of England thinks inflation will peak at 13.3% before the end of the year, and Goldman Sachs has warned UK inflation could even top 22% early next year.
