GBP – Sterling traded at the lowest since March 2020 on Tuesday, as the resignation of Britain’s finance minister threw Prime Minister Boris Johnson’s government into a crisis.
In a post on Twitter finance minister Sunak stated “The public rightly expect government to be conducted properly, competently and seriously. I recognize this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.”
EUR – The single currency fell to twenty-year lows on Tuesday as the market’s focus tilted to the latest surge in European gas prices, fueling recession concerns.
Commenting on EUR’s outlook, MUFG stated “it will continue to be very difficult for the EUR to rally in any meaningful way with the energy picture worsening and risks to economic growth increasing notably.”
In a post on Twitter finance minister Sunak stated “The public rightly expect government to be conducted properly, competently and seriously. I recognize this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.”
EUR – The single currency fell to twenty-year lows on Tuesday as the market’s focus tilted to the latest surge in European gas prices, fueling recession concerns.
Commenting on EUR’s outlook, MUFG stated “it will continue to be very difficult for the EUR to rally in any meaningful way with the energy picture worsening and risks to economic growth increasing notably.”
