The GBP has been pressured recently on USD strength, concerns over Brexit, stresses over a 2022 recession to last 15 months, huge energy price rises, and inflation projections from the BoE to go over 13%. So, the new plan from the incoming PM, Liz Truss, has been well received by the GBP this morning.
It was reported overnight that Liz Truss has plans to freeze UK energy bills in a move billed to cost £130 billion.
This potential gain in the GBP is backed by the seasonal data.
Major Trade Risks: The major risk here is that the recent USD strength keeps the GBP pressured.
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