In January 2012 the UK budget saw a considerable surplus (₤7,75B). It became possible due to much lower net borrowings. This is the biggest surplus since January 2008. Over the last year, the borrowings have been reduced by ₤15,7B down to ₤93,5B.
Forex.
In the meantime, the British Pound is currently showing some weakness against the US Dollar. According to the Department of Masterforex-V Trading System , the price has finished the bullish wave A/B H12. A break above 1.5875 will probably start the forming of wave A(C )/C. The supposition will be confirmed once the price breaks above 1.5884, 1.5893 and 1.5928. Otherwise, GBPUSD will probably continue retracing down to 1.5654 and 1.5643. A break below these levels may start a major downswing.
