UK: A moderately-sized tax relief package can give some support to GBP this week – ING
Source Fxstreet
This could be an important week for UK markets. Economists at ING analyze Pound Sterling (GBP) outlook ahead of the Spring Budget.
UK budget is a key event risk for Sterling
Hopes of delivering pre-election tax cuts are likely to be met by funding constraints, even though we estimate the headroom has increased from £13bn to £18bn thanks to slightly lower market rates compared to November’s Autumn Statement.
UK media have reported Hunt is probably scaling back the size of the tax relief package and that support measures will also be smaller than in November.
A moderately-sized tax relief package (i.e., one that does not trigger gilts turmoil) can probably give some support to GBP this week, but the spectrum of possibilities is admittedly quite wide.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Analyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
The Trump administration is negotiating to take equity stakes in quantum computing firms in exchange for federal funding.
Related Instrument
