The British pound is poised to experience its largest monthly decline since September 2023 against the US dollar, as traders brace for increased volatility ahead of significant political events. Recent reports indicate that the one-week implied options volatility for the pound has reached its highest level since March 2023, currently standing at 10.375%. This surge in volatility reflects heightened market sensitivity in anticipation of the upcoming UK budget and the US elections. As a result, currency traders are actively seeking to hedge against potential risks associated with these events, which are expected to impact market dynamics significantly.