Traders Bet on Pound Weakness Ahead of Budget

Traders are piling into bets that Wednesday’s UK Budget will push the pound lower against the dollar, and the pharmaceutical industry saw some promising — and not so promising — clinical trial results. Plus, US tech stocks leapt on Monday and Ireland’s military neutrality has created a weak spot in Europe’s defences. 

Mentioned in this podcast:

Currency traders bet against sterling ahead of Budget

Novo Nordisk shares slump after drug failure in Alzheimer’s trial

Bayer soars on promising trial results for stroke prevention drug

US tech stocks surge as Fed rate cut bets fuel rebound

How Ireland became the weak spot in Europe’s defences

Note: The FT does not use generative AI to voice its podcasts 

Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.