GBP Soars to Three-Month High as Fed Rate Hike Expectations Wane
The Pound Sterling (GBP) has made modest gains against the US Dollar (USD), rising by 0.14% on Monday as investors digest softer-than-expected US inflation data.
The GBP/USD pair trades at 1.3552, having hit a three-month high of 1.3571.
This comes as fading expectations of an imminent Federal Reserve (Fed) rate hike have dragged the USD lower and lifted the GBP to its highest level since May 12.