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Evening Standard

Business

Holly Williams

Chancellor facing tough questions over fiscal rules as market woes deepen

Rachel Reeves United Kingdom Kathleen Brooks Liz Truss xtb

The pound has remained under pressure amid an intensifying sell-off in government bonds as Chancellor Rachel Reeves faces mounting questions over her fiscal rules (Isabel Infantes/PA) - (PA Wire)

The pound has remained under pressure amid an intensifying sell-off in government bonds as Chancellor Rachel Reeves faces mounting questions over her fiscal rules.

Sterling fell another 0.5% to 1.214 US dollars on Monday, having last week hit its lowest level against the dollar since November 2023, with government borrowing costs rising ever higher.

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