UK annual borrowing nearly £15bn above official forecast; stocks rise as Trump rows back on Fed attack – business live
UK government borrowed £151.9bn in year to March; investors cheered by hopes of US-China trade dealING currency analyst Francesco Pesole explained:Bessent threw a lifeline to fragile US sentiment with conciliatory remarks on the US-China trade war. Bessent said the current tariff situation is “unsustainable” and expects a de-escalation in the near term.We could witness a period where the dollar is tossed around by headlines of Fed independence risk and market-friendly news on US tariff policy. What is clear by now is that no other G10 currency has a higher positive beta to trade news than the dollar. Continue reading...
UK government borrowed £151.9bn in year to March; investors cheered by hopes of US-China trade deal
ING currency analyst Francesco Pesole explained:
Bessent threw a lifeline to fragile US sentiment with conciliatory remarks on the US-China trade war. Bessent said the current tariff situation is “unsustainable” and expects a de-escalation in the near term.
We could witness a period where the dollar is tossed around by headlines of Fed independence risk and market-friendly news on US tariff policy. What is clear by now is that no other G10 currency has a higher positive beta to trade news than the dollar. Continue reading...
