[neximo64]

You never go into expansionary fiscal policy during periods of inflation. The UK did that, it wasn't so much about the tax cuts, it was that they weren't matched with spending cuts.

Came as a surprise, in a nonscheduled budget & was the opposite of what was expected.

That got the gilts (uk bonds) to drop, and that got the currency shocked as the gilts were force liquidated. I wouldn't read too much into the currency bit, as every other currency is down against the USD, including the euro, yen and aud.