Tuesday’s front pages are dominated by the turmoil in the markets on Monday, which saw the pound touch an all-time low against the dollar. The Financial Times says pledges by the Bank of England and the Treasury that they would work to bring both inflation and government debt under control failed to stop heavy sell-offs of sterling by investors. The paper quotes the chief economist of the Bank of Singapore warning that the UK could enter a spiral usually seen in emerging markets where “policymakers struggle to reassert credibility”.