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Telegraph came out with the story suggesting a delay in the UK’s much-awaited budget during the early Monday morning in Asia. The news cited anonymous sources to suggest that the Chancellor Rishi Sunak searched for leeway to announce the budget amid the coronavirus (COVID-19) resurgence.
Key quotes
Treasury sources say Chancellor wants ‘flexibility’ to hold Budget later if circumstances change with coronavirus cases rising.
Rishi Sunak is contemplating delaying the Budget until the New Year because of uncertainty around a possible second wave of coronavirus.
Chancellor has so far refused to set a date for the budget release.
It is currently expected in November statement.
FX implications
Such speculations, if proven right, can weigh on the GBP/USD prices that currently struggle around 1.2800.