“I will deliver "immediate support" to ensure people are not facing unaffordable fuel bills going into the winter,” Britain's Foreign Minister and a frontrunner in the UK’s laeadership race, Liz Truss, wrote in the Sun newspaper in an article published late on Wednesday.

She added, “I will also deliver immediate support to ensure people are not facing unaffordable fuel bills. I will be robust in my approach.”

Her comments come ahead of next Monday’s announcement of the new prime minister and as the country battles the deeepening energy crisis.

Market reaction

GBP/USD is keeping its range below 1.1600, down 0.28% on the day. The pair hit the lowest level since March 2020 at 1.1569 earlier in the Asian session amid notable US dollar strength.