Pound Falls Against Yen Amid Shift in Global Interest Rates

The pound sterling gained against the dollar on Monday but fell sharply against the Japanese yen. Sterling rose by 0.14% to $1.3573, while trading at 85.86 pence per euro.

The biggest move for sterling was against the yen, where it fell 0.8% to 209.41 yen, its lowest level since February. This decline comes after British Finance Minister John Healey delivered his first major economic speech, outlining plans to give city regions greater powers to attract private investment.

The speech offered few new signals capable of changing expectations for Britain's fiscal or monetary outlook. Attention is shifting toward the government's October Budget, where investors will look for clarity on how Healey intends to finance the government's economic priorities while maintaining control of public finances.