Sterling Lifted by Good Borrowing News
After the Office for Budget Responsibility announced that the short-term public borrowing situation is not as bad as feared today, the pound made some sudden gains of 1.4% against the dollar to stand at $1.477.
The new fiscal watchdog, which is newly created by the Lib-Con coalition, said that stronger tax receipts would cut the budget deficit for the current financial year to £155bn from the £163bn forecast in Labour’s last Budget.
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