UK Chancellor Rachel Reeves vowed to smooth the path for further Bank of England interest rate cuts, according to the Financial Times.
She said her upcoming Budget would focus on curbing inflation and reducing the cost of living.
Reeves told the FT she is determined to get a grip on borrowing and will include measures to cut household bills, creating room for the BoE to deliver more rate cuts in the coming months.
The GBPUSD today has tried to extend below the 200 hour MA at 1.33693 on a number of tries today, but without much luck (or momentum). That is the good news for the buyers.
The not so good news is the high in the US session has stalled within a swing area between 1.3391 and 1.3404. Staying below that area keeps the sellers in play.
So there is a battle going into the close and into the new trading day.
