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TDUX
Oct 28 - 11:55 AM
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GBP/USD - Elicits Support From Low-Key UK Budget

By Robert Howard  —  Oct 28 - 09:58 AM

• Cable nudges up to 1.3300 as pound benefits from low-key UK budget

• 1.3300 is Ldn/NY session high. 1.3274-1.3295 was pre-budget range

• UK doubles tax surcharge on banks to 6%. Fiscal headroom £15 billion

• OBR says UK's economic and fiscal position remains very challenging

• Fed rate hold expected at 1800 GMT; Warsh briefing starts 1830 GMT

• Dollar might strengthen on a more hawkish-than-expected Fed hold

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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