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The sterling pound is declining with the anticipation of the British general budget

By Diana Iraiqat
05 Mar,2024
The sterling pound is declining with the anticipation of the British general budget

 

The sterling pound witnessed a decline in the European market on Tuesday from the highest level in two weeks against the US dollar, with corrections and profit taking in addition to risk aversion before the announcement of the general budget in the United Kingdom for the year 2024, as it includes levels of government spending, income levels and borrowing. expected, in addition to setting financial goals in the United Kingdom and planned investments

The decline against the dollar was 0.15% in today’s trading, as the pound ended Monday’s trading up by 0.3% against the dollar, the second daily gain in a row.
 
It is expected that tomorrow, Wednesday, British Finance Minister Jeremy Hunt will announce the details of the general budget in the United Kingdom for the year 2024, which includes levels of spending, income, and borrowing, in addition to announcing financial goals and planned investments. It is also expected that Chancellor Jeremy Hunt will try to Allays speculation about major tax cuts ahead of the country's general elections, and announces financial forecasts that may boost the British economy and improve sentiment among consumers and businesses.

 

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.

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