Pound rises on mini-budget reversal

Proactive Market Reporter Jeremy Cutler speaks to Broadcast Presenter Thomas Warner following a statement by new UK Chancellor of the Exchequer Jeremy Hunt.

The British pound rose by around 0.5% against the dollar after the Chancellor revealed plans to reverse recently-announced tax cuts and reduce financial support for domestic energy consumers.

Cutler suggests that investors will find the announcement “encouraging” but highlights the continued threat to the UK economy from high inflation and low economic growth.

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