Forex
GBP Loses Ground as Fed-BoE Divergence Continues
The British Pound (GBP) continues to struggle against the US Dollar (USD), as the Federal Reserve's (Fed) hawkish stance and the Bank of England's (BoE) dovish on-hold decision weigh on its value.
The GBP/USD pair has been declining since Friday, when it hit a low of 1.1335, and is currently trading at around 1.3375, down nearly 0.15% for the day.
The divergent Fed-BoE policy outlook, with the Fed raising interest rates for the first time in three years last Wednesday and the BoE holding steady at 3.75%, has created a negative outlook for the GBP/USD pair.