Forex
Pound Breaks Three-Month High as Fed Rate Hike Uncertainty Rises
The Pound to Dollar exchange rate has reached its highest level in three months, surpassing 1.3550, due to resilient UK growth and attractive yields.
This strength is also attributed to fading expectations of an imminent Federal Reserve rate hike, as US inflation continues to moderate and retail sales weaken.
SocGen sees potential for the Pound to Dollar exchange rate to strengthen further, targeting the 1.38 area.