This is what happened to the pound during Philip Hammond Budget speech
Few politicians would proclaim to have magical powers, but today Philip Hammond seemed to develop the ability to make currencies drop on every word he says. Delivering a crucial Budget to parliament the pound plummeted as he rifled through a raft of shaky economic indicators. He acknowledged that the economic outlook for the country is […]
Few politicians would proclaim to have magical powers, but today Philip Hammond seemed to develop the ability to make currencies drop on every word he says.
Delivering a crucial Budget to parliament the pound plummeted as he rifled through a raft of shaky economic indicators.
He acknowledged that the economic outlook for the country is deteriorating, setting growth forecasts under 2 per cent for the next five years.
He then announced that he will put aside an extra £3 billion to prepare for all possible Brexit outcomes.
As he spoke the pound tumbled on the currency markets in a move that has been described by some people on Twitter as being in correspondence with their “will to live”.
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