GBP/USD Traders Left Hanging as Dollar Dominates

The British Pound (GBP) has been trading near 1.3550 against the US Dollar, after three consecutive declines pushed it away from its six-month high of just below 1.3700.

Despite the UK's inflation rate already at 2.9%, a rise in Crude Oil prices and Treasury yields following an attack on Iranian rocket launchers has had a limited impact on Sterling.

The Bank of England (BoE) held interest rates steady last month, with six to three vote, but this hawkish setup hasn't influenced the pair's movement.

Meanwhile, the Federal Reserve chair's keynote speech at Jackson Hole reset expectations for an interest rate hike in September, with aggregated futures probabilities now putting it near 65%.