Search ForexCrunch

UK Chancellor Rishi Sunak announced a kickstart scheme to pay firms to hire young people and confirmed a new £2 billion green homes grant. The UK will cut stamp duty on house purchases of up to £500,000 and the scheme will run till March 31. The government will invest an extra £1 billion in work and pensions department to support unemployed.

Sunak’s spending plans provided a modest boost to the British pound and lifted the GBP/USD pair back closer to daily tops, around the 1.2560-65 region.