Sterling Could Welcome Looser UK Fiscal Policy

1140 GMT – Sterling could benefit if finance chief Jeremy Hunt offers tax cuts or other fiscal-easing measures at the U.K. autumn budget statement due around 1230 GMT, ING currency analyst Chris Turner says in a note. “We think some looser fiscal policy will be welcomed by sterling at this juncture and continue to favor EUR/GBP trading back below 0.8700.” He expects a “fiscally responsible” Hunt to deliver tax cuts which don’t derail plans to stabilize the U.K. debt trajectory over a five-year horizon. Just over a year ago, then Prime Minister Liz Truss’s plans for unfunded tax cuts caused market chaos. EUR/GBP trades steady at 0.8701 while GBP/USD falls 0.1% to 1.2528. ([email protected])