British Pound Sees Relief Rally As PM Truss Ditches Tax Cuts For Super-Rich
The United Kingdom Prime Minister Liz Truss has dropped a plan to reduce taxes for the highest earners, giving some much-needed respite for the battered pound.
Ray Dalio Says UK Operating ‘Like An Emerging Country,’ Spending Plan ‘Suggests Incompetence’
The rout in the financial market resulting from the U.K. government’s spending plan “suggests incompetence,” billionaire investor and founder of Bridgewater Associates, Ray Dalio, said in a series of tweets.
Janet Yellen Says US Monitoring UK Developments, Both Countries Share Inflation Woes
U.S. Treasury Secretary Janet Yellen said the United States was monitoring developments in Britain after the government announced a fiscal program that dragged the pound to a record low against the dollar.
Larry Summers ‘Glad’ IMF Recognizes ‘Gravity’ Of British Situation: Here’s His Take On Inflation
Former Treasury Secretary Lawrence H. Summers has expressed his delight at the International Monetary Fund urging the United Kingdom to re-evaluate its unprecedented tax cuts.
British Pound Weakness Far From Over? Options Market Positions Indicate Currency Will Fall To $1 Or Below
After the British pound tumbled to its record low on Monday following the U.K.
British Pound Drops To All-Time Lows: ‘Existential Crisis Is Looming’
The iShares MSCI United Kingdom ETF (NYSE: EWU) traded lower by another 0.8% on Monday and is now down 7.5% overall in the last five days as investors continue to react to