When asked if she is ashamed of the government's budget, "I think we should remember the situation the country was facing," British Prime Minister Liz Truss said on Thursday, as reported by Reuters.

Truss further reiterated that they are working closely with the Bank of England. "We have seen difficult markets around the world, I am clear that the government has done the right thing," the PM added. "As the PM, I am prepared to take difficult decisions and do the right thing."

Market reaction

The British pound continues to weaken against its rivals following these comments and the GBP/USD pair was last seen losing 1% on the day at 1.0780.