GBP/USD Under Pressure from Rising Fed Rate-Hike Bets
The GBP/USD exchange rate is facing increasing pressure as bets on a potential US Federal Reserve interest rate hike rise.
Markets are watching closely for any signs of inflation that could prompt a rate increase, which would likely strengthen the US dollar and put downward pressure on sterling.
This would be particularly challenging for GBP/USD, currently trading around 1.32, as it has struggled to break through this level in recent times.