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25 Oct 2022

UK PM Sunak: Won't leave next generation with debt to settle

New British Prime Minister, Rishi Sunak, said on Tuesday that they are currently facing a profound economic crisis and added that he will place economic stability at the heart of government agencies, as reported by Reuters.

Additional takeaways

"I understand I have to restore trust."

"There will be difficult decisions."

"Will bring compassion to challenges we face."

"Won't leave next generation with debt to settle."

"We will have professionalism and accountability at every level."

"Will deliver 2019 mandate."

"Will build an economy that makes most of the Brexit opportunities."

"Ukraine war must be seen successfully to its conclusion."

Market reaction

The British pound showed no immediate reaction to these comments and was last seen gaining 0.45% on the day at 1.1325.

Oct 25, 2022

USD could gain around a further 4% over the next three to six months – Wells Fargo

Economists at Wells Fargo expect to see further gains in the greenback, anticipating a peak in Q1-2023. US dollar has yet to reach its cyclical peak “

USD/MYR: A sustained move above 4.7500 looks unlikely – UOB

USD/MYR faces prospects for extra gains, although a convincing breakout of 4.7500 appears not favoured for the time being, notes Markets Strategist Qu