Pound Sterling (GBP) experienced modest gains following the UK budget announcement, as easing fiscal pressures provided a slight boost to the currency. ING's FX analyst Chris Turner highlighted that while the budget was supportive, the introduction of back-loaded tax measures and anticipated rate cuts from the Bank of England (BoE) could restrain the currency's upward momentum.
In the trading arena, the GBP/USD exchange rate reflected this cautious optimism, showing potential resistance levels as investors weigh the implications of the budget. Meanwhile, concerns regarding the UK’s economic outlook persist, with the EUR/GBP currency pair also maintaining a close watch on developments. As traders adjust their positions, the market remains attentive to how these fiscal changes and monetary policy adjustments will influence Sterling’s performance in the coming weeks.
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Data Source: FX Killer Analysis Team Updated: 2025-11-27 10:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.