UK Budget and sterling positioning
Speculators hold near their biggest sterling short since 2019 ahead of the UK Budget, with gilt yields and the pound seen as the test of fiscal credibility.
What we know
An account on X notes GBPAUD shorts are still squaring, with yields off highs and the pound slightly lower. Separately, Paul Ryan warned the US is heading toward a debt crisis.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.