GBPUSD: The British Conservative Party eyes tax cuts in the budg

The Sunday Times reported:

Britain's Chancellor of the Exchequer Jeremy Hunt is considering cutting income tax and national insurance in a bid to improve his standing in the polls.
Jeremy Hunt told Sky News:

“We want to responsibly reduce our tax burden.”
"The only thing we won't do is not give any tax cuts that could cause inflation."
It could allow heirs to defer taxes and consider instead giving tax breaks to low- and middle-income earners.

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It's time to sell GBP, everyone

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JP Morgan now says that the Bank of England will deliver a 50 basis point rate cut in the fourth quarter of 2024 compared to the pause throughout 2024 they had previously forecast.