Pound hits one week high as economic outlook offers good support

The British Pound is edging up from two and half month low as supportive economic undertone undercuts fiscal worries. The International Monetary Fund (IMF), offered an upgraded 2026 growth forecast of 1.3% for the UK. The economy is expected to expand at same rate this year too. The UK is set to be the second-fastest-growing of the world's most advanced economies this year. This pushed GBP/USD pair above 1.3400 mark today and the pair currently trades at 1.3415, up 0.24% on the day. The pair is hovering near one-week high. Meanwhile, US equities ended lower on Wednesday as investors mulled the prospect of tax rises and spending cuts in the upcoming Budget. The FTSE 100 ended down 0.3% and also capped advances in Pound which rose 0.40% yesterday. On NSE, GB/INR futures are currently quoting at 117.93, up marginally on the day in a mostly steady session so far.

Powered by Capital Market - Live News