The appointment of multimillionaire Rishi Sunak as the new prime minister has given the course of the British pound, at least for the time being, a boost in the right direction.
The British currency rose in value against both the US dollar and the European euro. A month ago, the rate of the pound against the dollar recorded another all-time low.
That was at the time of the announcement of the controversial tax plan under the previous prime minister, Liz Truss. Since then, the pound has risen almost 10 percent in value, but is still well below the value at the beginning of this year. The loss against the euro has been further reduced.
