Pound Sterling Pauses for Breath Ahead of Spring Budget
Published on: Mar 05, 2024|1 min read
London: 5 March 2024 (TraderMade): The British Pound (GBP) is trading slightly lower today as investors await the UK's Spring Budget announcement tomorrow. Chancellor Jeremy Hunt may need to walk a tightrope between stimulating growth and keeping inflation under control.
The GBPUSD pair declined by 0.15% to 1.2673.
Limited fiscal stimulus
The budget may offer limited tax cuts, raising hopes for earlier interest rate cuts by the Bank of England, which could weigh on the Pound.
Focus on data
Investors are also looking ahead to key economic data releases from the UK and the US this week, including PMI figures and the US jobs report.
Will the budget provide clarity for GBP's direction? Stay tuned for updates!
