Another week is soon to come to an end, yet a new round of high drama in the UK has just begun.
At the time of writing, the Prime Minister has just sacked the Chancellor and seems to be in the process of fundamentally u-turning on the entire economic agenda that set the market plunging just two weeks ago.
A speech at 2pm by PM Liz Truss is set to give more clarity on the situation however the pound is once again on a downward turn upon this news.
Over the course of the week we have seen Sterling/Dollar rate yoyo between $1.09 and $1.13. It’s been a similar case with the Euro. Until we get a clear view of the government’s plans, we can expect volatility to continue.
Given the ongoing chaos in Whitehall right now, we’ll refrain from making any more commentary until the dust has settled.
