Sterling remained under pressure this morning, as investors positioned themselves ahead of the Bank of England’s policy announcement.
Markets are currently pricing in a one-in-three chance of an interest rate cut, leaving the pound vulnerable to any surprises.
Adding to the uncertainty, the UK fiscal outlook is weighing on market and investor sentiment. Chancellor Rachel Reeves has hinted at potential tax increases in the upcoming Budget later this month — a move that could dampen growth prospects and further damage confidence in UK assets.
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