The UK pound is poised for significant movement as Chancellor Rachel Reeves prepares to present her budget address at 12:30 GMT today. Traders are closely monitoring the GBP/USD exchange rate, which has seen fluctuations in recent sessions, currently hovering around 1.2400. Market participants are anticipating potential fiscal measures that could impact economic growth and inflation forecasts, influencing the pound's performance against the euro and the dollar.
As the budget speech unfolds, volatility in the GBP/EUR pair is likely, with current levels near 1.1600. A robust fiscal strategy or unexpected announcements could strengthen the pound, while a cautious outlook may exert downward pressure, pushing the currency pair lower. Investors are advised to stay alert for updates that could sway trading sentiment in the Forex market, as the implications of the budget could resonate through various currency pairs in the coming days.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 11:17
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.