Pound and borrowing costs stabilise after market jitters

The pound and UK government borrowing costs have stabilised after recent turbulence, with the pound rising slightly to $1.22 and government borrowing costs dipping slightly from recent highs. Chancellor Rachel Reeves faces pressure following market moves, with Prime Minister Sir Keir Starmer praising her while the Conservatives criticize her handling of the situation. Experts attribute the UK’s specific issues to a delayed response to tax and spending in the Budget, with global factors also contributing to rising government debt costs in other countries.

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