CMC: fiscal stimulus holds potential for pound upside

Amid uncertainty around Brexit clearing, upcoming UK budget may add support to UK currency

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Finance plans: Boris Johnson’s government is expected to hold its first budget on March 11

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Dissipating geopolitical uncertainty around Brexit and a possible fiscal stimulus in the UK’s upcoming budget could support a higher move in the British pound this year, says Michael Hewson, chief market analyst at CMC Markets in London.

The Boris Johnson-led government is expected to hold its first budget on March 11, when it will outline the delivery of promised spending commitments and tax plans.

“We could see

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