Hammond budget to come
Expectations for anything that will truly move the needle on growth are low but UK Chancellor of the Exchequer Phillip Hammond is set to deliver the UK budget at the bottom of the hour (3:30 pm in London).
He will speak for about an hour and at the end of the speech the DMO will release borrowing estimates. The consensus is around GBP107 billion.
Cable is down 26 pips on the day to 1.2802, having just ticked below the figure. It rose as high as 1.2853 at the start of US trade. Since then the dollar has been broadly bid.
Watch it live here:
