Published by Jamie JemmesonThe pound was little affected by yesterday's (March 24th) budget speech from chancellor Alistair Darling, with global headwinds turning the market's attention elsewhere.Covering the budget, the Financial Times columnist John Authers declared that if Mr Darling's intention was to create a package that would create minimum market attention, "he could scarcely have done a better job".Forex dealers yesterday pushed the euro to new lows against the dollar, even as the US was gripped by a deficit scare that provoked a selloff in treasuries.Meanwhile, Portugal's deficit also caught the attention of ratings agencies, with Fitch downgrading the country's sovereign debt rating to AA- with a negative outlook."The UK and its fiscal worries were only a sideshow on Wednesday," commented Mr Authers.However, with a public deficit of 12.4 per cent of gross domestic product, rivalling Greece's and Portugal's debt burden, the UK may yet attract the attention of the markets for all the wrong reasons.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site