The British pound has risen slightly against the US dollar in response to Liz Truss’s appointment of Jeremy Hunt as the UK’s new chancellor and the news that he plans to issue a new fiscal statement two weeks ahead of schedule.
The uptick means £1 sterling is now worth $1.13, a recovery after it crashed to a disastrous low in the wake of Mr Hunt’s predecessor, Kwasi Kwarteng, announcing his heavy-borrowing, tax-slashing “mini-Budget” to Parliament on 23 September.
