Pound Advances As Chancellor Brings Forward Measures From Medium-Term Fiscal Plan
17 Oktober 2022 - 10:09AM
RTTF2
The pound climbed against its major counterparts in the European
session on Monday, as new finance minister Jeremy Hunt announced
that the government would withdraw almost all tax measures of
economic plan to support fiscal sustainability.
The Chancellor announced that the basic rate of income tax would
remain at 20 percent for the time being.
The plan to cut dividend tax by 1.25 percentage points from
April 2023 has been scrapped.
The government would not proceed with the introduction of a new
VAT-free shopping scheme for non-UK visitors to Great Britain.
The Chancellor said that these changes would enable the
government to raise around 32 billion pounds a year.
The pound touched 168.40 against the yen, its highest level
since June 9. The pound may test resistance around the 1.23
region.
The pound rose to 1.1335 against the franc and 0.8620 against
the euro, off its prior lows of 1.1234 and 0.8686, respectively.
The currency is likely to challenge resistance around 1.22 against
the franc and 0.84 against the euro.
The pound was higher against the greenback, at 1.1331. The pound
is seen facing resistance around the 1.23 level.
Sterling vs CHF (FX:GBPCHF)
Forex Chart
Von Mär 2024 bis Apr 2024
Sterling vs CHF (FX:GBPCHF)
Forex Chart
Von Apr 2023 bis Apr 2024