January 25, 2023 – Written by John Cameron
Pound (GBP) Under Pressure from Domestic Headwinds
The Pound (GBP) struggled for demand on Wednesday as a warning from the Office for Budget Responsibility (OBR) could see Chancellor Jeremy Hunt scaling back his growth plans for the UK.
With government borrowing surging in December, the highest December on record, Hunt could be left with a financial black hole when the spring budget comes around. Hunt’s plans for medium-term growth for the UK now hang in the balance, the modest optimism for the UK’s economic outlook wanes.