Business · 21 July 2026
Pound holds $1.34; UK 10-year gilt yields hit 5.01%.
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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.
Reported by Reuters · How we write briefs