The GBP\/USD strikes the 1.1400 mark, as the UK\u2019s new Finance Minister, Jeremy Hunt, said, On Monday, that the government changed its course while reiterating that Britain is a country that \u201cpays its debts.\u201d
So far, Liz Truss\u2019 U-Turn keeps investors\u2019 mood positive, with global equities trading in the green territory. At the time of writing, the GBP\/USD is trading at 1.14, above its opening price but below the two-week high.
GBP\/USD jumped as UK\u2019s newest Finance Minister scrapped PM Liz Truss\u2019s initial budget proposal. The quiet US calendar left investors focusing on UK\u2019s economic news on slashing the tax cuts from the newest government budget to calm the markets.
The 30-year bonds has fallen 45 bps, from 4.85% to 4.35%, as tweaks made by the newest Finance Minister bought PM Liz Truss government time.
Jeremy Hunt\u2019s program increased the corporate tax rate while reversing tax changes on dividend income, alcohol duty, and a VAT-free shopping scheme aimed to raise GBP 5 billion. Hunt also commented that he would form an \u201ceconomic advisory council\u201d to provide independent advice to the government.<\/p>\n","protected":false},"excerpt":{"rendered":"
The GBP\/USD strikes the 1.1400 mark, as the UK\u2019s new Finance Minister, Jeremy Hunt, said, On Monday, that the government changed its course while reiterating that Britain is a country that \u201cpays its debts.\u201d So far, Liz Truss\u2019 U-Turn keeps investors\u2019 mood positive, with global equities trading in the green territory. At the time of …<\/p>\n","protected":false},"author":13,"featured_media":54454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7034,10029,7619],"class_list":["post-74124","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gbp-usd","tag-jeremy-hunt","tag-uk-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=74124"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74124\/revisions"}],"predecessor-version":[{"id":74129,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74124\/revisions\/74129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54454"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=74124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=74124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=74124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}