Gbp/usd - 1.4828... Although UK's Osborne said to have issued the toughest Budget for a century which included 29 billion pounds worth of annual tax rises and the biggest cuts in public spending for almost a century, cable has risen after this news as market received it as a determined act to straighten out the ever-worsening budget deficit. Despite a brief pullback to 1.4803 in Asia, sterling rebounded fm there n re-test of y'day's high of 1.4859 is seen. Bids are located at 1.4790/00 n further out at 1.4780. On the upside, a mixture of offers and stops is tipped at 1.4850/60.
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