GBP is taking a hit after the report that Starmer is going to drop plan to hike tax rates

The news is here from earlier:

• UK PM Starmer and fin min Reeves drop plan to hike income tax rates
• The UK prime minister and chancellor have ‘ripped up’ earlier proposals to raise the basic and higher income tax rates, officials have said.

GBP has taken a hit since.

This article was written by Eamonn Sheridan at investinglive.com.