HONG KONG: The United Kingdom's currency and European equities slipped on Thursday after the previous day's rally fueled by the Bank of England (BoE), with investors growing increasingly worried about the British economy as Prime Minister Liz Truss backed the controversial mini-budget that sparked turmoil across global markets.

The British central bank sparked a surge across risk assets on Wednesday following the announcement of a two-week program to spend £65 billion ($71 billion) buying long-dated UK bonds 'to restore orderly market conditions.'