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Forex traders might be interested to see sterling decreased by 25 pips to $1.6230, down around 0.8 per cent on the day following chancellor of the exchequer George Osborne's speech.
He revealed a lower growth projection for the coming year and increased borrowing targets.
Growth forecast reduced from 2.1 per cent to 1.7 per cent and borrowing over the 2012-2015 period is targeted at £36 billion more than what was predicted in November.
Before the Budget was announced, the pound had already fallen by around 40 pips due to the Bank of England's (BoE) monetary policy committee meeting minutes revealing there were no additional policymakers voting in favour of an interest rate rise.
The voting remained at six-three for keeping the cash rate the same, while the news provider stated sterling's slump was a "knee-jerk" reaction to the BoE minutes.
Posted by Greg Secker
