Pound sees biggest weekly fall since July; UK fiscal and macro worries collide

The pound had its biggest weekly decline in a month as concerns over UK long-term finances, a surprise rise in public borrowing, weak factory and services momentum, and a weak gilt auction weighed on sterling. A resurgent dollar, boosted by stronger-than-expected US second-quarter growth data, added pressure.

Sterling was up 0.1% at $1.3355 but had lost almost 1% for the week.