Pound Declines for Third Day Amid Rising US Dollar Expectations

The British pound has declined for the third consecutive day due to the rise of the dollar on a large scale.

This is attributed to increasing investor expectations that the US Federal Reserve will undertake a series of interest rate increases in the coming months, despite oil prices trading below $100 per barrel.

The pound sterling fell by about 0.45 percent to approximately $1.328, while oil futures dropped again to below $99 per barrel.

A survey conducted by Standard & Poor's Global showed a slowdown in the growth of British companies' activity during September, coinciding with the escalation of inflationary pressures.