Jonathan Cook
on October 20th, 2025 Both ten and 30-year gilt (UK government debt) yields fell back drastically last week as the chancellor struck a tougher tone on taxes and spending. While still high, those adjustments should give the government a bit more breathing room by lowering borrowing costs. They also augur well for the pound in the longer term should the new message of fiscal discipline prevail.
GBP/USD: the past year
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