UK Chancellor Reeves: UK remains committed to fiscal rules at all times. GBPUSD still down ...Middle East

Remains committed to fiscal rules at all timesThe chancellor stated the government will go “further and faster” on its growth plan.Described market volatility as the result of “global economic uncertainty.”Defended her trade visit to China and her Budget policies.Reaffirmed commitment to self-imposed fiscal rules, which may require spending cuts soon.Acknowledged the need for a more detailed and urgent growth plan.Plans to prioritize growth at the World Economic Forum in Davos, with a speech on growth next week.Emphasis on infrastructure, trade, and industry ahead of the Office for Budget Responsibility’s March forecast.After a period of turbulence, the pound and UK government borrowing costs are showing signs of stabilising today

The GBPUSD is trading back to the downside as the PPI data and the early comments from Reeves failed to send the pair higher. The low for the day just extended to 1.21368

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This article was written by Greg Michalowski at www.forexlive.com.

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