Markets react to the UK's biggest tax cuts in 50 years
The pound fell to a record low against the dollar overnight as markets reacted to the UK's biggest tax cuts in 50 years. In early Asia trade, sterling fell close to $1.03 before regaining some ground to stand at about $1.07 on Monday morning, UK time. Today's Nick Robinson spoke to Mohamed El-erain, chief economics advisor to Allianz, and former Deputy Governor of the Bank of England and on the Monetary Policy Committee, Sir John Gieve. (Image credit: ARSHAD ARBAB/EPA-EFE/REX/Shutterstock)