After a rather choppy week, the US dollar had a stormy day against the pound yesterday following political announcements in the UK which caused it to fall, but it has since regained its strength.
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Yesterday’s economic adjustments were largely overshadowed by news of Rishi Sunak’s appointment as the UK’s new prime minister. Following a night of ups and downs, the pound had risen against the dollar, but quickly regained its strength.
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Dollar marginally lower against sterling and euro compared to this time last Monday.
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The euro begins this week marginally up on where it was against the dollar this time last Monday despite yesterday's choppiness
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Sterling begins this week stronger than last Monday after a choppy week against the dollar.
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Former prime minister Boris Johnson withdrew his candidacy in the PM leadership to replace Liz Truss as PM.
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Sterling has strengthened close to its highest against the dollar for a month and against the euro for six weeks. With plenty still happening in the economic world and a psychodrama in British politics, it looks like a…
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Yesterday the US saw figures reflecting existing home sales which fell 1.5% in September, the lowest since May 2020 – but close to expectations. The monthly budget statement will be released this evening.
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