GBP to USD

Reaching 1 GBP = $1.04, the pound has crash-landed, marking a record low against the U.S. dollar following the new prime minister's budget announcements.

Due to the pound devaluing, all cryptocurrency tokens appear to rise in value in Cobie’s home country, the United Kingdom. Inflation in the United Kingdom is at record levels for the century, [hitting double digits last month](https://cointelegraph.com/news/uk-hits-double-digit-inflation-for-the-first-time-in-40-years) for the first time in 40 years. [announced](https://www.gov.uk/government/news/chancellor-announces-new-growth-plan-with-biggest-package-of-tax-cuts-in-generations). In numbers, Bitcoin is down 50% against the pound this year but up 2% today and 9% over the past week. In a tweet, Angel Raynor criticized the Conservative Party or 'Tories,' blaming their management of the economy for the fall in the pound. The pound has been on a steady decline against the USD since 2007 and the subsequent financial crisis.