This should be viewed as a canary in the coal mine for the euro and dollar
It is a canary in the coal mine alright for what the conservatives will destroy in a demand side economy. The BOE is in crisis mode bailing out the bond market this morning.
The central Europeans, read western, are turning to supply side econ. Come early winter the ECB will be hiking interest rates as dramatically as the FED has been doing. The BOE will follow suit as a demand side economy.
The issue is inflation, rates must go higher.
Higher interest rates cause will cause an appreciation in the USD, EUR, and Pound.
The canary in the coal mine is lowering taxes in the US and UK. Dunce move. In fact that is an insult to dunces.