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Briefs: It may take a shock rate hike for traders to leave the UK pound alone

The Edge Singapore
The Edge Singapore • 8 min read
Briefs: It may take a shock rate hike for traders to leave the UK pound alone
The UK pound plunged almost 5% to a record low after Chancellor of the Exchequer Kwasi Kwarteng vowed to press on with more tax cuts. Photo: Bloomberg
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Quoteworthy: "I’m still wildly bullish on Bitcoin and Ethereum." — Pantera Capital CEO and founder Dan Morehead at Token2049 in Singapore

It may take a shock rate hike for traders to leave the UK pound alone

“Be more forceful”: That is the message to the Bank of England (BoE) from the financial community, convinced that only massive policy-tightening to lift rates above those of the Federal Reserve (Fed) will stabilise the UK pound.

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