we begin with the turmoil on financial markets today, the pound sterling continues to languish against the us dollar and several other currencies. the slide in its value was triggered by last week s mini budget, with its controversial package of tax cuts. let s get historical for a moment. we have records for sterling against the dollar going back through history, and in the early hours of monday morning it reached an all time low that is since the creation of the us currency in 1792. let s take a closer look at the past few days the dollar has been strong but this further drop down is about sterling weakness, with a bit of a recovery and then falling back again. you can see this dramatic few days, sterling weakness with a little bit of recovery before it fell back again. on friday and monday there were massive moves within a day, which for a currency like sterling is rare. and one of the impacts of a low pound means that we import inflation, oil and gas is more expensi
virgin money and skipton building society halted mortgage offers for new customers, but said submitted applications would still be processed. halifax the biggest mortgage lender in the uk says it is withdrawing a range of new home loans. to explain why i m joined by fahad kamal chief investment officer at kleinwort hambros. just explain, as jane touched on there, as the gilts markets go on there, as the gilts markets 9° up, on there, as the gilts markets go up, it has an impact on mortgage products and bags having to withdraw some. talk as to what is going on there. good morning. it s very simple. bank impulses to manage a series of cash flow problems. what that means is if you take a mortgage and you say you want to borrow 100 at the interest rate of ten, you have to pay 110 in a year s time. hopefully they are able to fund that from