The pound is largely unchanged on the dollar, but up on last month’s standings, while government borrowing costs are down for the day.
Following the appointment of Sunak as PM, sterling spiked against the euro yesterday, but this was short-lived. This morning, pound remains down against the euro and worse than last week’s figures.
Sunak’s appointment came after the two other contenders withdrew their candidacy. In a brief statement yesterday, the new prime minister warned the country faces a “profound” economic challenge.
