Pound Rises As Rumours Spread Of Mother Of All U-turns

14th October 2022

The Pound has rallied to its highest level in over a month against the Euro while recovering to its highest level in a week against the Dollar, amidst reports the UK government was set to reverse some, or all, of its mini-budget.

When asked by a reporter in Washington if the government was about to u-turn, Chancellor Kwasi Kwarteng said "let's see". It is widely reported Kwarteng is cutting short his overseas trip to potentially announce a policy shift.

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Pound rises on talk of mini-budget U-turn