November 29, 2022

UK markets take Autumn Assertion in stride

UK markets take Autumn Statement in stride

UK markets take Autumn Statement in stride

Sterling and gilts fell on Thursday as buyers digested Jeremy Hunt’s plans to restore the UK’s public funds, unwinding a part of a powerful rally within the run-up to the chancellor’s Autumn Assertion.

The pound traded 1.0 per cent decrease on the day at $1.179 towards the greenback after Hunt detailed a bundle of spending cuts and tax rises that he described as a “path to stability”, extending losses seen earlier than the chancellor started his assertion to parliament. Sterling stays…

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