The Pound Sterling (GBP) experienced a notable decline on Friday, erasing the gains achieved the previous day as reports emerged suggesting that the UK government might abandon its plans for a tax increase. The GBP/USD currency pair fell below key support levels, trading at 1.2400, while the EUR/GBP exchange rate climbed to 0.8550, reflecting increased demand for the euro amid GBP weakness.
As the week draws to a close, the Pound appears poised to finish in the red, with traders closely monitoring developments surrounding UK fiscal policies. The potential scrapping of tax raise plans could significantly impact market sentiment and trading strategies, leaving investors cautious as they assess the implications for economic growth and inflation in the UK.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 08:48
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.