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The focus in UK markets is turning to the Autumn Budget on Wednesday and ahead of it we have seen a mild recovery in the GBP/USD, which has found support as the US dollar recovery has paused ahead of the release of US retail sales and PPI inflation data today.
The UK spring budget is set to be released tomorrow. And if GBP/USD follows its general pattern around this budget, it could be in for a tough few days - starting from today.
Market Reaction to Sunak's Spending Spree
In addition to using monetary policy to stem the economic fallout, many countries have announced fiscal stimulus plans.
A strong response from global policymakers may be the sign traders need to see for equity markets to form a bottom...
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