Sterling hits record low against the dollar, as Asia-Pacific currencies also weaken

Sterling hit a record low.

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Line chart with 171 data points.The chart has 1 X axis displaying Time. Range: 1980-01-01 01:00:00 to 2022-07-01 00:00:00.The chart has 1 Y axis displaying values. Range: 1 to 2.5.End of interactive chart.

Those economic measures could lead to the U.K. taking on too much debt at a time when interest rates are going up.

The path of least resistance is going to remain lower because the U.K. government seems to be throwing the market a bone.

He told CNBC's "Squawk Box Asia" that he looked at parity below $1.

He said that he doesn't see a reason why sterling can't go down as well.

The currencies of Japan, South Korea, and China all fell against the US dollar.

The Japanese currency traded at a lower level against the dollar than before the intervention.

The won in South Korea was close to the level in 2009.

Against a basket of major currencies, the U.S. dollar index rose.

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