It’s a big day for the UK and there will be a lot of eyes on the pound as well as the gilt market. Britain’s Chancellor Reeves will announce the autumn budget and it will come under intense scrutiny amid intense political pressure on him in recent months.
The bourse has been trading steady so far this week, with GBP/USD moving above another test of 1.3200, while EUR/GBP has cooled off a bit after hitting a two-and-a-half-year high above 0.8850 earlier this month. The latter is now trading around 0.8782 but awaits the next fresh catalyst.
Going back to the budget, I discussed more here on things to note for tomorrow.
