Pound lingers around one-month low amid fiscal concerns; BoE Breeden's speech due

British pound lingers around a one-month low against the dollar following a 1% plunge in the previous session. GBP/USD is currently quoting at $1.3375, down marginally on the day. Yesterday, the counter tumbled around 1% as UKs 30-year gilt climbed to their highest level in nearly 3 decades. UKs thirty-year gilt yields touched a peak of 5.680%, up about four basis points on the day, their highest since May 1998 over concerns of a widening UK budget deficit due to UK Chancellor Rachel Reeves decision to increase borrowing in last years budget, in turn increasing the risk premium on longer-term gilts because of uncertainty over its rising debts. The Bank of England (BoE) Sarah Breeden is set to speak later on Wednesday. However, dollar pared yesterdays gains ahead of US non-farm payroll due later this week for further cues on Federal interest rate stance. A dovish tone from the US Federal Reserve (Fed) is keeping expectations for a rate cut intact and weighing on the greenback. On the NSE, GBP/INR futures are down 0.16% to 118.03.

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