The pound is still strong against the euro and the dollar this morning ahead of the autumn Budget, which is due to take place later today. Sterling hit a 20-month high against the euro yesterday – the strongest it had been since the start of the pandemic.
At around 12:30pm, Chancellor Rishi Sunak will reveal his spending plans and changes to tax. A pay rise for public sector workers has already been announced, as well as an increase in the National Living Wage.
A budget which includes a hike in wages and measures to support the UK economy post-pandemic could influence actions from the Bank of England, due to concerns over rising inflation.
