Sterling moved upwards against the US dollar yesterday, strengthening by around 1% over the course of the day and overnight. It is currently at its strongest since the start of September.
The picture was more patchy against the euro, with no overall gain.
The new Chancellor Kwasi Kwarteng sacked a key Treasury civil servant Sir Tom Sholar in a move which indicates that fiscal loosening is the new economic policy, as evidenced by the £150bn for the energy bailout.
Yesterday the RICS House Price Balance was +53, a fall from last month but still rising. There are no data releases today in what is likely to be a muted business day from the UK side. However, most businesses are operating as normal following the sad death of the Queen yesterday.
GBP/EUR past year
