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Newly appointed Chancellor of the Exchequer, Rishi Sunak, has confirmed that the new budget will be presented on March 11th.

“Cracking on with preparations for my first Budget on March 11. It will deliver on the promises we made to the British people – levelling up and unleashing the country’s potential,” Sunak tweeted out on Tuesday.

GBP reaction

The GBP/USD pair erased its daily losses in the last hour and was last seen trading flat on the day a little above the 1.3000 mark. The data published by the UK’s Office for National Statistics showed that the Unemployment Rate remained unchanged at 3.8% with the Claimant Count Change arriving at 5.5K to better the market expectation of 22.6K.