The new notes featuring the King’s face have been in circulation for two months now. New £10 notes with King Charles face on them have been sold for up to £17,000 at auction. While some of the legal tender has already been in circulation since June, it’s going to take another while before they become […]
1 year ago
Gilts also fell back following the announcement There has been a position reaction to the resignation of Liz Truss in the markets. The Prime Minister stepped down today after just 44 days in office following the fierce backlash against her economic plan and humiliating climbdown. Low-tax and low-regulation policies unveiled in Kwasi Kwarteng’s budget plunged the […]
3 years ago
‘Liz is ******. She is ******.’ A Tory MP’s profanity-filled message about Liz Truss was read out live on Sky News this morning. Disillusionment over ‘Trussonomics’ has resulted in sterling falling to its lowest level against the dollar since decimalisation in 1971 today. The British currency fell by more than 4 per cent to just 1.0327 dollars […]
3 years ago
Markets plunged on Friday in what was described as the ‘worst day ever’ Prominent Brexiteers are cashing in on the demise of the UK economy by taking short positions against sterling and government bonds. Hedge fund manager Crispin Odey, who once employed Chancellor Kwasi Kwarteng as an analyst, reportedly made a killing on Friday, with […]
3 years ago
“The UK economy is crushed” Sobering new analysis suggests Britain is on the road to becoming an emerging market country. Political instability, trade disruptions, an energy crisis and skyrocketing inflation is chipping into the country’s reputation on the world stage. In a research note Monday, Saxo Bank’s head of macro analysis, Christopher Dembik, said the […]
3 years ago
Boris’ departure is good news for the pound The pound has started trading stronger in the wake of news that Boris Johnson is set to resign as prime minister on Thursday. The currency is up 0.6 per cent at 1.198 US dollars and 0.4 per cent stronger at 1.174 euros after hitting a two-year low […]
3 years ago