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Oct 30 - 11:55 AM

GBP/USD - Dips To Lowest Level Since Oct 24 As Reeves Speaks

By Rob Howard  —  Oct 30 - 09:35 AM
  • Cable dips to 1.2937 as UK finance minister Reeves unveils budget

  • 1.2937 is lowest level since Oct 24 (1.2911 was low that day)

  • 1.2951 was low shortly before UK budget, after big US ADP jobs data beat

  • Reeves says she is raising UK taxes by 40 billion pounds a year nL8N3M61O8

  • New UK budget forecasts show 142 billion pounds of extra borrowing

  • OBR raises 2025 UK CPI forecast to 2.6%, from 1.5% in March nL1N3M60P9

Source:
Refinitiv IFR Research/Market Commentary

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