Pound Sterling Price News and Forecast: GBP trims losses but remains below 1.3300

FXStreet Team FXStreet

British Pound trims losses but remains below 1.3300 with all eyes on the UK budget

The British Pound (GBP) is heading south against the US Dollar (USD) for the fourth consecutive day on Wednesday, with investors awaiting the release of the UK budget and the US Federal Reserve’s (Fed) monetary policy decision, both due later in the day. The GBP/USD pair has reached a fresh two-week low at 1.3275, before picking up to 1.3295 at the time of writing.

In the UK, the highlight of the week is the release of the first budget of Prime Minister Andy Burnham’s cabinet, with the main focus on the plans to finance the tax exemptions announced by the cabinet to ease British citizens’ cost of living. Read more...

British Pound declines ahead of UK Finance Minister Healey's budget

GBP/USD continues its losing streak for the fourth consecutive day, trading around 1.3290 during Asian hours on Wednesday. Traders are waiting for UK Finance Minister John Healey to present his first budget later in the day.

UK Finance Minister Healey faces mounting pressure to deliver measures that can ease the ongoing cost-of-living burden on households while simultaneously providing much-needed support to businesses across the country. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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