More from Trade Minister Greg Hands, who says the rally in UK financial markets yesterday and this morning could be due to “a variety of different factors.”
The pound has climbed against the dollar, and yields on government bonds, known as gilts, have fallen, lowering the cost of borrowing for the government.
When asked if former Bank of England governor Mark Carney is wrong to imply they are reacting to the idea that the government will reverse its decision on the mini-budget soon, the minister refused to answer.
Hands cite the Japanese Yen hitting a 30-year low against the US dollar and the euro performing as poorly as the pound as other reasons that could have caused the rally.
He cites his own experience working in financial services and argues they “behave the way they do based on information that comes into them from a multitude of different sources”.
“It’s not a UK-only thing,” Hands tells the Today programme.
Pushed on whether the country would be better off if his preferred candidate Rishi Sunak had become prime minister, Hands says “no” and calls on the Conservative Party to “unite behind” Liz Truss.
Source: BBC.com