Sterling Slips Ahead of UK Budget
Sterling declined against the euro and dollar as investors avoided major positions ahead of the upcoming UK budget announcement. Markets also prepared for a busy week of global central bank meetings.
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Sterling dropped 0.31% to 83.98 pence against the euro on Monday morning ahead of a key fiscal statement. The retreat followed a multi-month peak reached on Friday in United Kingdom markets. Investors avoided large positions ahead of a packed central bank calendar and Wednesday's budget announcement.
