The post GBP/USD trades with mild gains around 1.3025 on Wednesday appeared on BitcoinEthereumNews.com. GBP/USD posts modest gains above 1.3000, traders await US private payroll data The GBP/USD pair posts modest gains near 1.3025 during the early European session on Wednesday, bolstered by a softer US Dollar (USD). However, the potential upside for the major pair might be limited, as UK Finance Minister Rachel Reeves hinted at broad tax rises in her budget later this month. The US October private payroll and ISM Services Purchasing Managers Index (PMI) reports will be published later on Wednesday. Rachel Reeves, on Tuesday, gave a clearer indication that tax hikes are coming in her Autumn Budget later in November. The Sunday Times reported that Reeves was looking at more than 100 possible tax and spending options, with a focus on the top third of earners. Reeves emphasized her commitment to her fiscal rules and did so again on Tuesday, saying it was “iron-clad.” The Cable is likely to stay on the back foot ahead of the UK Autumn Budget on November 26 as expectations mount for tax hikes. Read more… GBP/USD plunges into new lows as losses accelerate GBP/USD fell further on Tuesday, making a clean downside break of the 1.3100 handle and shedding around 0.9% over a single day as Cable losses continue to pile on. The Pound Sterling (GBP) has closed flat or down against the US Dollar (USD) for all but two of the last 12 consecutive trading sessions as GBP/USD races toward a third straight week of one-sided declines. Little of note lies on the UK side of this week’s data docket until the BoE’s upcoming interest rate decision on Thursday. Even here, little change is expected. The Monetary Policy Committee (MPC) is expected to vote six-to-three to keep interest rates unchanged. The addition of another rate cut vote will be of some note for particularly attentive central bank policy wonks; however,… The post GBP/USD trades with mild gains around 1.3025 on Wednesday appeared on BitcoinEthereumNews.com. GBP/USD posts modest gains above 1.3000, traders await US private payroll data The GBP/USD pair posts modest gains near 1.3025 during the early European session on Wednesday, bolstered by a softer US Dollar (USD). However, the potential upside for the major pair might be limited, as UK Finance Minister Rachel Reeves hinted at broad tax rises in her budget later this month. The US October private payroll and ISM Services Purchasing Managers Index (PMI) reports will be published later on Wednesday. Rachel Reeves, on Tuesday, gave a clearer indication that tax hikes are coming in her Autumn Budget later in November. The Sunday Times reported that Reeves was looking at more than 100 possible tax and spending options, with a focus on the top third of earners. Reeves emphasized her commitment to her fiscal rules and did so again on Tuesday, saying it was “iron-clad.” The Cable is likely to stay on the back foot ahead of the UK Autumn Budget on November 26 as expectations mount for tax hikes. Read more… GBP/USD plunges into new lows as losses accelerate GBP/USD fell further on Tuesday, making a clean downside break of the 1.3100 handle and shedding around 0.9% over a single day as Cable losses continue to pile on. The Pound Sterling (GBP) has closed flat or down against the US Dollar (USD) for all but two of the last 12 consecutive trading sessions as GBP/USD races toward a third straight week of one-sided declines. Little of note lies on the UK side of this week’s data docket until the BoE’s upcoming interest rate decision on Thursday. Even here, little change is expected. The Monetary Policy Committee (MPC) is expected to vote six-to-three to keep interest rates unchanged. The addition of another rate cut vote will be of some note for particularly attentive central bank policy wonks; however,…