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British pound firms ahead of this week's budget update

Sterling climbed on Monday ahead of British finance minister Rachel Reeves' spring budget update later this week and as data earlier in the day showed that business activity in the UK's huge services sector picked up this month.
The British pound has shown signs of strengthening as the market anticipates the upcoming UK budget update. This week's budget, set to be announced by Chancellor Jeremy Hunt, is expected to include measures aimed at boosting economic growth and managing inflation. Investors and analysts are particularly focused on potential changes in fiscal policy, tax adjustments, and spending commitments. The anticipation of these announcements has led to a cautious optimism in the currency markets, with the pound gaining ground against other major currencies. The budget's outcomes could influence the Bank of England's future monetary policy decisions, impacting the pound's value further.

Read the Full Reuters Article at:
[ https://www.msn.com/en-gb/money/other/british-pound-firms-ahead-of-this-weeks-budget-update/ar-AA1BxHTh ]