The British pound is holding around a one-month high against the dollar on Thursday as UK Budget removes near-term fiscal uncertainty and offers a mildly supportive backdrop for Sterling. The latest United Kingdom (UK) budget revealed by Chancellor of the Exchequer, Rachel Reeves, raises taxes by £26 billion, following last year’s budget raised taxes by £40 billion. UK Finance Minister Rachel Reeves said the government has £22 billion in fiscal headroom to absorb unexpected shocks. However, the Office for Budget Responsibility (OBR) noted that this room remains “limited” relative to its projections. Besides, weakness in dollar overseas amid rising bets of a Federal rate cut is supporting the pair. Currently, GBP/USD is quoting at $1.3211, down 0.17% after a relentless five day rally. On the NSE, GBP/INR futures are trading higher by nearly half a percent at 118.20.