GBP/USD Eyes Further Gains on Hawkish BoE Bets Amid Record-High Diesel Prices
The Pound-US Dollar exchange rate has been buoyed by bets of a forthcoming interest rate hike from the Bank of England, following a record-high diesel price in the UK.
Average diesel prices at UK forecourts have surpassed 199.18p per litre, prompting markets to anticipate tighter monetary policy from the BoE.
This has sparked expectations for a stronger Pound, with GBP/USD briefly touching a five-day high of $1.3250.