Sterling fell, FTSE 100 lost its gains and bond yields rose after PM’s press conference failed to announce new direction
Three weeks of chaos that cost more than Kwarteng’s jobJeremy Hunt appointed chancellor after sacking KwartengPM to raise corporation tax in another humiliating U-turn
Liz Truss has failed to quell the turmoil in financial markets as investors attempted to assess the fallout from Kwasi Kwarteng’s sacking.
Sterling fell 1.3% to $1.1188 on a rollercoaster day for the currency. The pound dropped sharply after Kwarteng’s exit from the cabinet was confirmed before recovering some lost ground as Jeremy Hunt was named chancellor.
Sterling fell, FTSE 100 lost its gains and bond yields rose after PM’s press conference failed to announce new directionThree weeks of chaos that cost more than Kwarteng’s jobJeremy Hunt appointed chancellor after sacking KwartengPM to raise corporation tax in another humiliating U-turnLiz Truss has failed to quell the turmoil in financial markets as investors attempted to assess the fallout from Kwasi Kwarteng’s sacking.Sterling fell 1.3% to $1.1188 on a rollercoaster day for the currency. The pound dropped sharply after Kwarteng’s exit from the cabinet was confirmed before recovering some lost ground as Jeremy Hunt was named chancellor. Continue reading…