Market insights

Massive Day For The Pound

The UK budget is about to be announced.

Possibly the most watched budget of recent times.

Borrowing for public spending and income tax hikes formed the basis of the Labour manifesto.

Both are in the potential firing line today.

Pound rates suggest a relaxing of borrowing rules could be in play, but a further freezing of the tax threshold and even a hike to the tax rate are also being touted.

Whatever happens at 12.30pm, expect volatility. There's no further room to blame the previous Government, and the hole may only get deeper with increases to minimum wage and continued pressure on SME's.

We would strongly advice speaking to your dedicated account manager here at Regency FX to discuss options on mitigating potential future risk.

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Economic calendar

UK: 12:30 Budget

US: 13:30 Durable Goods Orders

US: Thursday Thanksgiving Day

As ever we look forward to keeping you in the loop and look out for our next update.

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