EU critical of UK budget plans
- UK budget medium=term budget cuts “lack ambition”, EU says in a draft report
- Government economic growth forecast may be too optimistic
- Uncertainties over the banking sector cloud outlook
The report is set to be released Wednesday of this week but was “acquired” by Reuters.
No reaction from cable, which consolidates in at 1.5020/50 range.

AUTOREFRESH 













One would think the next few weeks are going to be ‘dump on UK time’, to make it tumble like the EUR did. Frankly, I think sterling’s holding up (too?) well so far. What is confusing is the supposed sovereign/fund buying we’re hearing about.