Monday 26 September 2022 05:59 PM Tories blame 'City boys' for sparking economic chaos as pound slides trends now

Monday 26 September 2022 05:59 PM Tories blame 'City boys' for sparking economic chaos as pound slides trends now
Monday 26 September 2022 05:59 PM Tories blame 'City boys' for sparking economic chaos as pound slides trends now

Monday 26 September 2022 05:59 PM Tories blame 'City boys' for sparking economic chaos as pound slides trends now

Tories blame 'City boys' for sparking economic chaos as traders are accused of 'trying to make money out of bad news' as the pound slumped in global markets amid concern at Truss and Kwarteng's tax-cutting plans Traders in London accused of exacerbating Budget fallout for personal gain 'City boys' accused of 'playing fast and loose with the economy' to short pound Sterling down again as Bank of England stopped short of emergency rate hike 

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Senior Tories attempted to heap blame on 'City boys' trying to make money out of a crisis amid further economic turbulence today.

As the pound continued its nosedive towards parity with the US dollar they lashed out at traders in London, accusing them of exacerbating the fallout from Friday's mini-budget for personal gain. 

Some have been accused of 'shorting' the pound - gambling they can sell a currency at a high price before buying it back after a fall and pocketing the difference.

Allies of Liz Truss and Kwasi Kwarteng said traders had been 'playing fast and loose with the economy', telling the Times: 'It was bound to happen. It will settle.'

The pound tumbled again tonight as the Bank of England stopped short of an emergency interest rate hike in the wake of the Chancellor's tax-cutting Budget.

The Pounds clawed back ground by early afternoon, returning to just over $1.08 - but then tumbled again after the Bank of England stopped short of raising rates

The Pounds clawed back ground by early afternoon, returning to just over $1.08 - but then tumbled again after the Bank of England

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