The pound has maintained its strength against the euro but is weaker against the dollar this morning after a speech by Federal Reserve Chair Jerome Powell pushed up US bond yields.
Markets continue to digest Wednesday’s Spring Budget, which seems to have been reasonably well-received. Rishi Sunak has reassured the British people over tax changes saying that it is the “fair way” to do what is needed to help the economy recover.
Speaking yesterday, Jerome Powell said that there was a long way to go to reach the Fed’s inflation and employment goals, and did not seem overly concerned about bond markets.
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