I posted earlier from Barclays: Barclays on the UK budget - asymmetric risk for GBP (skewed to downside)
So now ... opposite time! This via eFX
ING FX Strategy Research discusses GBP outlook ahead of the release of the 2018 Budget on Wednesday, and thinks that GBP risk is skewed to the upside.
"The stage is set for Chancellor Hammond to showcase his vision of a post-Brexit economy in this week's Budget (Wed) and despite being hamstrung by a weaker set of OBR fiscal forecasts, it's clear that the global investment community are in dire need of some Churchillian-like words of inspiration over the future of Britain.
...GBP investors may need to look beyond the minutiae of policy detail in the Budget this week and focus on the degree of economic optimism struck by the Chancellor
We also see upside risks to the 3Q UK GDP second reading (Thu). We like GBP/USD upside and eye 1.3400 on a well-received Budget," ING argues.
