GBP/USD Tests August Low Ahead of BOE and Fed Decisions

The GBP/USD pair closed just below 1.3500 on Monday after trading to its lowest since August 14 in the London morning.

The Dollar rose against every major currency on the day as futures priced Wednesday's Fed increase at 100% and the 10-year Treasury yield touched 5% for the first time since 2023.

The Pound gave up less than the Euro did, but still faces a crucial vote from the Bank of England's rate committee on Thursday. The committee will decide whether to raise interest rates before or after the Fed announces its decision on Wednesday.