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US beats forecasts with 254,000 new jobs in September; BoE’s chief economist urges caution over interest rate cuts – business live

Rolling coverage of the latest economic and financial news

Sterling drops after Bank of England boss hints at ‘aggressive’ rate cutsCarmakers ramp up pressure on chancellor for EV sales subsidies

The pound jumped as traders reacted to Huw Pill’s call for a cautious approach to interest rate cuts.

It rallied as high as $1.3164, up from $1.312 last night,before settling back at $1.315

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