Forex
GBP/USD Slumps to Three-Month Low Amid Soaring Gilt Yields
The UK government paid 5.383% at its latest 10-year gilt auction, the highest comparable auction yield since September 1999.
Sterling traded around $1.3235 on September 29, not far from last week's three-month low of $1.3204.
The pound has struggled to benefit from higher UK borrowing costs as inflation and expensive energy reshape the rate outlook.
GBP/USD is dependent on which central bank delivers a stronger policy signal.