Forex
GBP/USD Falls Below 1.36 as UK Fiscal Concerns Dominate Markets
The UK's fiscal concerns have taken center stage in the markets as the GBP/USD consolidates below 1.36, leaving sterling vulnerable to further downside.
Bulls are on the back foot amidst heightened uncertainty surrounding UK fiscal policy, rising long-end gilts yields, and oil prices driven up by global inflation.
The dollar has strengthened following Federal Reserve Chair Kevin Warsh's hawkish comments at the Jackson Hole Symposium last week, which spurred expectations of future rate hikes.