What market turmoil means for your money including pensions, mortgages and savings

THE pound has fallen further and government borrowing costs are rising as market turmoil continues.

The fall on Monday means £1 is now worth $1.21 after dropping to $1.23 last week – its lowest level against the dollar since November 2023.

GettyThe impact of this volatility is likely to hit people’s finances[/caption]

It followed revelations that government borrowing hit a 27-year high causing concerns over the economy and fears that there need to be more tax rises.

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