GBP Stalls Ahead of Jackson Hole: Markets Turn Cautious on Warsh's Speech

The Pound to Dollar exchange rate (GBP/USD) has retreated towards 1.3600, failing once again to break through resistance at 1.3650.

This comes as markets grow increasingly cautious ahead of Federal Reserve Chair Kevin Warsh's appearance at the Jackson Hole event.

Despite remaining supported by benign global conditions and relatively attractive UK yields, Standard Chartered notes that positive Pound sentiment has already been priced in, making further gains less likely.