ASX to rise, British pound tumbles on UK deficit woes

Timothy MooreBefore the Bell editor

Jan 10, 2025 – 4.57am

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Australian shares are poised to rise. US bond yields ended flat in a short session; US equities were closed for the funeral of Jimmy Carter. Oil rallied above $US77 a barrel, while iron ore topped $US97 a tonne.

The UK pound fell to its lowest in more than a year and UK government bonds dropped as concern over the Labour government’s ability to check the deficit.

Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog.