Pound Sterling and Gilts Drop on Burnham Borrowing Comments
There was some noticeable price action in foreign exchange and fixed income markets after new Prime Minister Andy Burnham suggested he would be creative when it came to borrowing.
There was some noticeable price action in foreign exchange and fixed income markets after new Prime Minister Andy Burnham suggested he would be creative when it came to borrowing.
"Burnhamโs clear preference for an expansionary fiscal stance, higher taxation and larger gilt issuance present a downside risk to markets"
More →Official daily exchange rates from 1971 to today: Bank of England, ECB and interbank sources.
Bank of England trade-weighted sterling effective exchange rate index (Jan 2005 = 100)
A reading above 100 means the currency is expensive relative to its long-run historical average. Below 100 means it is undervalued.
There was some noticeable price action in foreign exchange and fixed income markets after new Prime Minister Andy Burnham suggested he would be creative wh...
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