Pound climbs as Chancellor expected to U-turn on more of Liz Truss's mini-budget

The pound climbed as markets opened on Monday amid speculation that new Chancellor Jeremy Hunt is expectedMr Hunt is expected to deliver part of the Government’s new fiscal plan, thought to include billions of pounds of savings, at 11am in a bid to stabilise public finances following weeks of economic turmoil.

Following his statement, the Chancellor will address the House of Commons later today ahead of the publication of his full medium term fiscal plan on 31 October. In a further positive sign for the Government, yields on 30-year debt tumbled to 4.5 per cent and bonds jumped. Liz Truss faces a growing threat to her leadership as three Conservative MPs spoke out against her on Sunday

Source: Financial Digest (financialdigest.net)

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