Pound traders take break from Brexit as focus shifts to fiscal policy

London

POUND traders are taking a break from Brexit.

Sterling barely moved last week on Brexit speeches by European Union President Donald Tusk and UK Chancellor Philip Hammond. This week sees Mr Hammond in the spotlight for a different reason: UK fiscal policy. He will update the nation on his plans in the Spring Statement, with UK government bonds likely to be boosted as a result of an expected cut to borrowing. The bar to trade sterling on developments on the UK's impending separation from the EU seems to be much higher than it used to be. Sharp intraday swings on the back-and-forth between London and Brussels were the norm throughout 2016 and 2017.