Pound jumps 1% against dollar on UK government action

Economy

Published: 2022-10-17 13:21

Last Updated: 2023-02-07 07:03


Pound jumps 1% against dollar on UK government action
Pound jumps 1% against dollar on UK government action

The pound jumped one percent against the dollar Monday as Britain's fourth finance minister in as many months prepared to update on UK tax and spending plans that spooked markets.

Sterling rallied 1.1 percent to $1.1293 ahead of Jeremy Hunt's fiscal announcement due 1000 GMT.