<p>Reuters with the news item, citing unnamed sources.</p><p>Market chatter is that he will be doing a U-turn on his tax cut plan. This unfunded plan is what triggered the melt-down in gilts and subsequent Bank of England intervention to prop up that market. The ramifications for GBP were a similar meltdown and bounce on the BoE rescue action.</p><p>More from the report:</p><ul><li>
Kwarteng cuts short trip to washington to return to London</li><li>Travelling back to
London to continue work on the medium-term fiscal plan</li><li>Kwarteng had
successful two days at IMF-world bank meetings</li></ul><p>more to come </p>
This article was written by Eamonn Sheridan at forexlive.com.