GBP edges higher ahead of UK budget – Scotiabank
By FXStreet Insights Team
Date Published: 25 Nov 2025 | Date Modified: 25 Nov 2025
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The Pound Sterling (GBP) is slightly stronger as traders await Wednesday’s UK budget, with much pessimism already priced in and rising odds of a near-term relief rally, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Pound Sterling (GBP) is slightly stronger as traders await Wednesday’s UK budget, with much pessimism already priced in and rising odds of a near-term relief rally, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
GBP extends mild rebound as markets await budget
"The pound is up a marginal 0.1% vs. the USD and a mid-performer among the G10 currencies as it tentatively extends its retracement of last Wednesday’s notable decline. Domestic releases have been limited to second-tier CBI sentiment data, and market participants remain squarely focused on Wednesday’s budget release."
"Sentiment remains weak but we feel that a lot of bad news is already priced in, leaving the balance of risk tilted to the upside with a high probability of a near-term post-budget relief rally."
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