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The Guardian - UK
The Guardian - UK
World
Archie Bland and Nimo Omer

Monday briefing: The pound slumps in Asia – and the far right rises in Italy

Giorgia Meloni Brors of Italy Italy Salvini Jake Sullivan Kwasi Kwarteng Liz Truss Martin Farrer Nimo Omer Sir Keir Starmer
Giorgia Meloni, leader of far-right party Brothers of Italy – thanks the country in the wake of Sunday’s election.
Giorgia Meloni, leader of far-right party Brothers of Italy – thanks the country in the wake of Sunday’s election. Photograph: Guglielmo Mangiapane/Reuters

Good morning. Two big stories have broken overnight, and they don’t make for a happy Monday, I’m afraid.

First, the pound, news which belongs in the “life comes at you fast” bucket. On Friday, the value of sterling crashed to below $1.09 in response to Kwasi Kwarteng’s non-budget. Yesterday, Kwarteng said he was focused on the “longer term and the medium term” and hinted at further tax cuts to “get this country moving”.

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