The pound has dropped to a six-month low after Rachel Reeves gave her strongest hint yet that taxes will rise at the Budget in a major speech on Tuesday morning.
The pound, which was already lower ahead of the speech, fell further after the comments to stand 0.3 per cent lower at 1.31 US dollars and 0.3 per cent weaker at 1.14 euros, not far off last week’s over two-year low against the single currency.
