Forex
GBP/USD Plummets on Rising US Yields and Hawkish Fed
The Pound Sterling has dropped for four consecutive trading days against the US Dollar, down by 0.21% as Federal Reserve officials remain committed to raising interest rates. The GBP/USD pair currently trades at 1.3213 after reaching a daily high of 1.3256.
US Treasury Yields are also on the rise, which has fueled the rally in the US Dollar and put further pressure on the Pound Sterling. This is despite the strength shown by the UK labor market in recent jobs data.