Yesterday’s high: $1.3273
Yesterday’s low: $1.3190
Pound Climbs on Budget Anticipation
Pound investors are hoping for positive developments in Brexit negotiations this week, leaving Sterling stronger.
Over the weekend, UK Chancellor Philip Hammond signalled that the UK government may be willing to raise its offer for the UK-EU ‘divorce bill’ in order to break the current deadlock.
On top of this, analysts are speculating that Hammond will announce some relieving fiscal policies for UK consumers during Wednesday’s Autumn Budget.
Anticipation for an improved UK outlook helped GBP easily advance against a weaker USD. ‘Greenback’ traders remain anxious about US tax reform and the political uncertainty caused by recent developments in the Trump-Russia story.
USD Outlook: UK Budget Remains in Focus
A lack of notable US data due for publication over the next few days means that US Dollar trade is likely to remain focused on developments in US politics and tax reform.
This means the Pound could continue climbing against the US Dollar in the coming days, especially if the UK government manages to reach an agreement on the Brexit divorce bill.
Pound investors would also be relieved if measures are taken in Wednesday’s Autumn Budget to boost Britain’s economy and consumer activity.
09:30 UK Public Sector Net Borrowing
13:30 US Chicago Fed National Activity Index
15:00 US Existing Home Sales
23:00 US Fed Yellen Speech
UK Autumn Budget
13:30 US Durable Goods Orders
13:30 US Jobless Claims
15:00 US Michigan Consumer Confidence
19:00 US Federal Reserve Minutes
09:30 UK Growth Rate
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Senior Currency Broker
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