Volatile sterling surges on reports of potential UK fiscal p

[geemong]

Volatile sterling surges on reports of potential UK fiscal plan U-turn

Sterling jumped on Thursday (Oct 13) on a media report that the British government is discussing making changes to fiscal plans announced last month, while investors awaited the impending end of the Bank of England's support for the bond market.

slotxo สล็อตฝาก10บาทรับ100 You'll need to calculate your bets well, as you may not need to bet as low as possible, but don't bet too high. Calculate that you will have enough slots rotation cycles.

The yen languished near a fresh 24-year low, while markets were also on edge ahead of US inflation data due later in the day which could give possible clues on how much higher the Federal Reserve will push interest rates.

Sterling surged 1.5 per cent to a one-week high against the dollar at US$1.1267 by 1205 GMT after Sky News reported the UK government was looking at which parts of its tax-cutting package might be ditched in a further U-turn by Prime Minister Liz Truss.

The government said on Wednesday that it would not reverse its plans for wide-ranging tax cuts or reduce public spending, which have rocked the country's financial markets as it remains unclear how the moves will be funded.

"UK markets are rallying on the back of - as yet not officially confirmed - reports that the government is looking at ways of reversing or significantly scaling back its package of unfunded tax cuts," said Stuart Cole, head macro economist at Equiti Capital.