[UK Budget is approaching, traders are increasing their bets on the fall of the pound] September 28th, as the new British government will announce its first budget in a month, traders are beginning to increase their bets on the fall of the pound. Industry data shows that bets on sterling falling against the dollar in the week after the October 28 budget announcement accounted for two-thirds of sterling options trading volume this month. That accounts for three-quarters of GBP/EUR options volume, according to data from the Depository Trust & Clearing Corporation (DTCC). Investors are concerned about the state of Britain's finances and how new chancellor John Healy will balance the books. As one-month options began to cover the timing of the budget announcement, expected volatility in sterling rose to its highest level since July, indicating that the market's cost of hedging for this event is rising.