UK budget in the spotlight for the session ahead

It’s a big day for the UK and that will see plenty of watchful eyes on the pound as well as the gilts market. UK chancellor Reeves will be announcing the Autumn Budget and that will be heavily scrutinised amid the intense political pressure that she has come under in recent months.

The quid is trading steadier so far this week, with GBP/USD running up against another test of 1.3200 while EUR/GBP has cooled a little after having hit two-and-a-half year highs earlier this month just above 0.8850. The latter is now trading back around 0.8782, keeping underpinned but awaiting the next fresh catalyst.

Going back to budget, I touched more on the things to watch out for yesterday here.

This article was written by Justin Low at investinglive.com.