The UK Budget has been largely anticipated in the forex market, with Société Générale's FX analyst Kit Juckes noting that increased fiscal spending and taxes are set to negatively impact the GBP. As traders price in these developments, the exchange rate for the GBP/USD currency pair may experience limited upside. Short-term relief could be possible, but the overall outlook remains subdued due to the fiscal and monetary dynamics at play.
In this environment, the GBP is likely to face ongoing challenges, particularly against a robust USD. With the prospect of a shifting fiscal landscape, traders should monitor exchange rates closely, as any sustained gains for the GBP are expected to be fleeting. The focus remains on how these fiscal adjustments will influence the broader economic landscape, particularly in relation to the EUR and other major currencies.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 10:48
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.