Following Truss’s announcement, the pound/US dollar rose, but only briefly, before steadying to roughly where it started the day. This was mirrored against the euro as sterling rose 1%, but not for long.
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There was very little movement for the single currency overall yesterday, despite a strong showing around lunchtime. The euro rose against the pound and US dollar yesterday morning, but this was short lived.
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Sterling exchange rates were volatile yesterday as Liz Truss announced her resignation. The pound rallied against the US dollar and edged higher than the euro.
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Sterling weakened yesterday in a shambolic day for UK politics. Against the US dollar the decline was close to 1%, but there was little movement against the euro. The Home Secretary Suella Braverman resigned following a breach of…
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Despite all the political turbulence, it was nevertheless matters outside of the UK that defined movement in the pound. Sterling fell against the US dollar by around 1%, but so did most other currencies.
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The euro declined against most major currencies yesterday, apart from the British pound, against which there were plenty of ups and downs but nothing that stuck.
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The US dollar strengthened against all major currencies yesterday, with the largest increases, of close to 1%, against the euro and pound.
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Sterling has drooped a little further following the inflation data this morning, showing a return to 10.1% year on year and 0.5% in September. This was broadly as expected. In any case, economic data that used to be…
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