GBP has risen to highs above 1.1580 in early Asia – fiscal boost, higher rates ahead

Cable has risen strongly in Asia morning trade so far.

The news out of the UK is of further stimulus to come from new PM Truss:

This will boost already high inflation and other response from the Bank of England will be harder, faster rate rises. While one can see Truss’ point, wanting to provide relief to struggling UK households the less than pleasant implications are clear.