GBP/USD EYES 1.2800 AS UK’S BUDGET AND POWELL’S COMMENTS LIFT THE POUND

• GBP/USD rallies, buoyed by UK's positive spring budget outlook and Powell's testimony on US economic strength.
• UK Chancellor Hunt's budget reveals tax cuts and economic growth projections, boosting confidence in sterling's trajectory.
• Despite mixed US job data, Powell's reassurances on inflation and economic growth support GBP/USD's upward movement.

The GBP/USD climbed 0.31% during the North American session and traded at 1.2746 after bouncing off daily lows of 1.2690. UK’s spring budget announcement and US Federal Reserve’s Chair Jerome Powell's testimony sponsored a leg-up in the pair, which is set to test the 1.2800 mark.