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Pound sinks as investors question huge tax cuts
The pound has fallen to a fresh 37-year low against the dollar as financial markets reacted to the biggest tax cutting moves in 50 years. UK stocks also dropped after chancellor Kwasi Kwarteng outlined a series of tax cuts and economic measures in a massive shake-up of the country's finances. The pound fell more than 3% against the dollar, dropping below $1.09. Sterling has fallen recently over worries about the economy and partly due to a stronger US dollar. The pound also fell more than 1% against the euro on Friday, dropping to €1.12. Mr Kwarteng refused to comment on the dropping value of the currency, saying ... (full story)
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- Edited 5:47am Sep 24, 2022 5:09am | Edited 5:47am
- RossEdwards
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- buffedmage
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Blank and Empty
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- Bones
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#doyourownanalysisordietryin
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- Headland
- Joined Apr 2020 | Status: stopped posting to cable thread | 19 Comments
Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
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- Steamroller
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- UKBanter
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The elites think we are stupid. They are in the main quite correct.
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- Headland
- Joined Apr 2020 | Status: stopped posting to cable thread | 19 Comments
Intraday swing trader @ 30min+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
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- DaJoWaBa
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- DaJoWaBa
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- UKBanter
- | Joined Mar 2017 | Status: Member | 938 Comments
The elites think we are stupid. They are in the main quite correct.