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FTSE 100 near session highs as UK Budget looms
The UK Chancellor, Jeremy Hunt will shortly commence his budget speech an ahead of this the GBP/USD is close to session highs, hovering around 1.2730 as I write. The FTSE 100 is close to session highs too and arguably the FTSE has more to win or lose from what emerges out of the Budget than does the Pound. Hence, the focus here ahead of all this. Naturally, I may have to correct what the preference is, when the details become known, after 12.30pm GMT. It is also important to note; that the details of all this may take an hour or more to emerge, as the speech unfolds. Therefore, we could see several spikes and dips in the Pound and the FTSE, before any final directional reaction might evolve. The FTSE 100 is currently trading at 7,676
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