The fallout from The UK budget earlier this week has seen Pound Sterling drop by roughly 1% against both The Euro and US Dollar as the biggest tax rises in a generation were announced. A big driver for the downward movement in Sterling was also due to a massive sell-off of GBP assets as well as Government Bonds rising to 4.5% for the first time in a year.
Usually, such an increase in bond returns would lead to further foreign investment and therefore prop The Pound up further, however this mechanism has reacted differently since Wednesday's budget as it seems international investors are increasingly concerned about the government's plans.
CLICK HERE to read full details about the Autumn Budget.
