Pound Slips as Fed Hawks Remain in Charge

The British Pound slipped to 1.3371 against the US Dollar on Monday, as hawkish comments from Chicago Fed President Austan Goolsbee weighed on Sterling.

Goolsbee stated that supply shocks may require painful tightening, hinting at further interest rate hikes by the Federal Reserve.

The Pound's decline was also influenced by still-high energy prices, which have put pressure on major central banks to raise rates.

The Bank of England held rates steady at 3.75% last week, despite recognizing that the US-Iran conflict could exert upward pressure on inflation.