Big Week For The Pound

18/10/10 -- Or should that be a big weak for the pound? New Chancellor George Osborne gets the unenviable task of outlining exactly what spending cuts are in store to tackle our record GBP156 billion budget deficit on Wednesday.

It could be a case of be damned if you do, or be damned if you don't for Georgie boy.

If he hits us with a full in the face raft of austerity measures then the pound could come under some pressure.

On the other hand any delay in tackling the thorny problem, and not introducing enough spending cuts, could also be viewed as dragging the recession on for longer, which could also undermine sterling.