Pound holds $1.34; UK 10-year gilt yields hit 5.01%.
Investors kept the pound close to $1.34 and 85 pence against the euro as they waited to see John Healey’s plans for government spending. Andy Burnham appointed the former defence secretary on Monday, and UK 10-year gilt yields slipped to 5.01% after rising above 5% a day earlier. June public borrowing fell to £16 billion, while the government also announced lower taxes on electricity bills.
Lost in this story? That's the point of BriefTea.
Open it in the app and tap Learn from this — the Knowledge Galaxy turns the story into a map of everything it assumes you know, one tap at a time. Free, no ads, no paywall.
Get BriefTea on the App Store