Reported 1 day ago
Trader confidence in the British pound has plummeted to its lowest point since the 2022 budget crisis, driven by a global bond selloff that has pushed UK bond yields to 16-year highs. With traders increasingly bearish, the pound has seen a significant drop, reaching a 14-month low against the dollar. This decline comes as British finance minister Rachel Reeves faces pressure to align government fiscal rules while navigating growing uncertainties in the UK's economic outlook and monetary policy.
Source: YAHOO