The British currency is no longer supported by expectations for immediate monetary tightening.
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Britain's Conservative government unveils its annual budget Wednesday, against the backdrop of looming Brexit and sluggish economic growth.Finance minister Philip Hammond will deliver his annual tax and spend plans before parliament at 1230 GMT.Hammond is under pressure to deliver an eye-catching budget after Brexit spats with cabinet colleagues -- and following Prime Minister Theresa May's botched general election earlier this year.On the eve of the budget, official data showed Britain's public finances worsened unexpectedly last month.Hammond will likely lift his annual borrowing targets and cut economic growth forecasts on Wednesday.
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