GBP/USD Sees Modest Gains as Yen Surge and Fed Rate Bets Lift Pound

The Pound-US Dollar exchange rate saw modest gains on Wednesday, with Sterling benefiting from broader currency market dynamics limiting demand for the US Dollar.

At $1.3559, GBP/USD was trading up by around 0.2% compared to its opening levels.

A rally in the Japanese Yen put pressure on the 'Greenback', pushing it to a seven-month high against the USD as expectations of a Bank of Japan interest rate hike continued to build.