Rolling coverage of the latest economic and financial news, as businesses, unions and investors mourns the passing of Her Majesty The Queen.
With the stock market open as usual, the FTSE 100 has risen by almost 1%.
The weakness of the US dollar today is lifting some equities, with mining companies leading the way.
“Investors are digesting the sad news of Queen’s death in the UK and contemplating Federal Reserve Chair Jerome Powell’s most recent statements on inflation.”
Elizabeth was crowned in a nation exhausted by victory in World War Two and reigned for 70 years. Sterling is perhaps a mirror on the long decline of empire over that time; pegged at $2.80 in 1952, it touched a 37-year low of $1.1407 this week.
It may yet fall further, as Britain borrows big to pay for energy subsidies economists think might cost £100 billion pounds or more.
