Market Views: How should Asian investors assess the weakening British pound?

The British pound reached a record low on Monday, September 26, when traders started fleeing due to concerns about the new government's economic plan, which was feared to stretch Britain's finances to the limit. This followed a 3.6% drop against the US dollar on Friday, September 23, when the new UK finance minister Kwasi Kwarteng unveiled historic tax cuts funded by the biggest increase in borrowing since 1972.   The British pound is currently historically low against the …