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Mar 23 - 11:55 AM

GBP/USD - Holds Close To Intra-Day Low After UK Budget Update

By Rob Howard  —  Mar 23 - 09:35 AM
  • Cable slid through 1.32 to 1.3179 intra-day low before Sunak's budget update

  • 1.3200 = subsequent high (during budget update) nL2N2VQ0F5nL5N2VQ36O

  • Sunak says to cut basic rate of UK income tax to 19% from 2024 nL5N2VQ41E

  • Next UK election expected 2024. 1.3286 was early Ldn high, after UK CPI data

  • See: nL5N2VQ19H. 1.3299 was Asian session top (highest level since Mar 4)

  • 1.3179 = seven pips above Tuesday's Asia high. 1.3121 was Tuesday's low

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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