Exchange Rates: Dollar
(asked on 26th September 2022) - View Source
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the main reasons for the long-term decline of the value of the pound against the US dollar.
This question was answered on 10th October 2022
Financial market movements are determined by a wide range of domestic and international factors. It is not appropriate for the government to comment on specific currency market movements. The UK does not have an exchange rate target and the Government does not have a desired level for sterling – the price is determined by the market. The UK's macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.
Financial market movements are determined by a wide range of domestic and international factors. It is not appropriate for the government to comment on specific currency market movements. The UK does not have an exchange rate target and the Government does not have a desired level for sterling – the price is determined by the market. The UK's macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.