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Sterling weakened near its lowest since December due to Middle East tensions, rising inflation, and hawkish Bank of England outlook amid downgraded UK growth forecasts and constrained rate cut expect…
GBPUSD rose to 1.338 as the dollar softened amid Iran's peace overture. BOE rate cut expectations fell sharply, while UK growth forecasts were revised lower for 2026 but remain stronger beyond.
GBPUSD rose to session highs after the UK’s Office for Budget Responsibility released upbeat economic forecasts, boosting sterling and government bond prices ahead of the British budget announcement.
UK budget reveals higher fiscal headroom and extended tax freezes, boosting GBPUSD temporarily amid lower gilt yields and modest economic growth forecasts.