Pound bounces back after Government U-turn on tax cuts
Pound bounces back after Government U-turn on tax cuts
Chancellor Kwasi Kwarteng’s mini-Budget sent the pound into freefall (Picture: Getty)
The pound has bounced back to levels seen before Kwasi Kwarteng’s mini-budget as the Chancellor was forced into a screeching U-turn on tax cuts for the rich.
Sterling surged to 1.13 against the US dollar at one stage overnight, recovering ground lost in the market turmoil, though it steadied back to 1.12 this…
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