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All eyes today will be on the Chancellor’s pre-budget report. Alistair Darling will address the nation and set out out he plans to solve the UK’s debt problem. There is talk of a windfall tax on banker’s bonuses, increasing the rate of capital gains tax to 20%, and a reduction in corporation tax to 25% in the long term to encourage inbound investment from the continent.

Whatever is released today, it is hard to believe that Alistair Darling will come up with a solution that has yet to be thought of. Therefore there is the very real chance we could see the form witnessed this morning, losses for Sterling accross the board, continue throughout the day. It would be worth keeping in touch with one of our award winning brokers to explain how you can protect your rate of exchange.