DAILY MAIL COMMENT: There’s every reason to believe in bold agenda
In the ever-febrile Asian financial markets, the pound took a painful early battering yesterday, losing some four cents against a muscular dollar.
By lunchtime the storm had abated and sterling was roughly back where it started – though it had weakened again slightly by close of business in London.
To those who desperately want to see Kwasi Kwarteng’s bold agenda for growth fail, the initial plunge represented a massive vote of no confidence by global investors.
In truth, however, the equally rapid rebound suggested yesterday’s early market volatility owed more to speculators trying to make a fast buck than any genuine verdict on the British economy.
Some desperately want to see Kwasi…