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USD demand across the board has seen..........>

CABLE: USD demand across the board has seen Gbp/Usd dip back under $1.3900 to
$1.3882. Despite this GBP has largely held the majority of US gains as focus
tomorrow turns to UK Chancellor Hammond who will deliver the Spring statement to
the House of Commons at 1230GMT. Credit Suisse note The Spring Statement is
unlikely to contain any tax and spending policy announcements, which are now
reserved for the autumn budget. But it is likely to reveal an improvement in
public finances worth as much as Gbp9bn in 2017/18. They add, growth forecasts
are also likely to be revised up given the better than expected growth data.
RBC say the much slimmed-down spring fiscal event won't contain any new
policies, so it is set to result in a parliamentary address of just fifteen
minutes or so by the Chancellor. Nevertheless, the OBR's updated economic and
fiscal forecasts will be as detailed as ever and could see the cumulative
government borrowing forecast out to 2022-23 fall by Gbp46bn to Gbp166bn as the
OBR acknowledge a slightly better than expected economic backdrop. Gbp/Usd last

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