Importance of commodities priced in dollars, including oil and gas, will be more costly if the pound stays at this low level against the dollar.
British tourists visiting America may find that their holiday money does not go as far as before sterling's slide, as other goods from the US could be considerably more expensive.
Under the plans, he hailed the economy, income tax and stamp duty on home purchases will be cut and business taxes will be scrapped.
On Sunday, Mr Kwarteng told the BBC he wants to keep cutting taxes as part of an effort to boost UK economic growth.
Peter Escho, the co-founder of Wealthi, said that all of the currencies are being sold off against the US dollar, so there is a large amount of US dollar strength. The news that the new government will be cutting taxes has exacerbated the situation, and it has been exacerbated by the news that the new government will be cutting taxes.
The Bank of England may enter whatever it takes to bring inflation down, to stop the bleeding even temporarily. As soon as this week, an emergency meeting rate hike could happen to regain credibility in the market. Stephen Innes, managing partner at SPI Asset Management, told the BBC that we could see a hike today.