Equities | Europe | Monetary Policy & Inflation | US
Markets to Watch This Week: U-Turn Truss Kicks Off NFP-Headlined Week
- By Bilal Hafeez and Ben Ford
- 3 min read
Market Moves
The aftermath of the ‘Fiscal Event’ stole the headlines last week. Initially, GBP/USD fell to levels last seen in the 1700s, while surging interest rates sparked discussion around ‘the UK Pension Problem’ and forced the Bank of England to intervene (Chart 1). The extreme moves in FX then reversed; GBP/USD ended +2.9% WoW (Chart 2). The same cannot be said for UK rates, though there was some reprieve (Chart 3).
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