XE Market Analysis: UK Budget Unveils Need for Increased Borrowing

OVERVIEW

  • Chancellor Hammond plans to spend more over the next couple of years to offset the impact of Brexit.
  • US consumer sentiment index dropped to 98.5 from 100.7 in October as we head towards the Thanksgiving holiday.
  • The Euro demonstrates resilience despite the political uncertainty going into next year.

HIGHLIGHT

The UK budget gave first-time buyers a boost with the stamp duty being axed for up to £300k, while the economic growth estimate was downgraded.