Jeremy Hunt appointed as Britain's new finance minister – Times

Eren Sengezer FXStreet

Former British foreign minister Jeremy Hunt has been appointed as the new finance minister by Prime Minister Liz Truss, Times Political Editor Steven Swinford reported via Twitter on Friday.

PM Truss is expected to make the official announcement at a press conference.

UK's Finance Minister Kwasi Kwarteng officially resigns.

Market reaction

This development doesn't seem to be helping the British pound find demand. As of writing, GBP/USD was trading at 1.1200, where it was down 1.1% on a daily basis. Meanwhile, the UK's FTSE 100 Index is up more than 1% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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