UK Chancellor Rishi Sunak said on Tuesday that the British government continues to adhere to the fiscal rules, weathering the global economic headwinds.

Additional comments

“We must manage public finances sustainably to avoid saddling future generations with further debt.”

“The UK is showing commitment to sustainable public finances while supporting long-term growth and addressing cost of living pressures.”

Market reaction

GBP/USD is back in the red, having wiped out the recovery gains, as the US dollar regains poise. The spot was last seen trading at 1.2733, down 0.05% on the day.