Pound Stalls Near 1.3300 Ahead of Fed and BOE Decisions

The British Pound struggled to break above 1.3300 against the US Dollar in New York morning trading, staying within a tight range of about 30 pips between 1.3250 and just over 1.3300.

This stagnation comes ahead of crucial decisions from both the Federal Reserve and the Bank of England, with the Fed's interest rate announcement expected to be closely watched.

The Dollar Index has reached a one-month high near 101.50, driven by expectations that the Federal Reserve will maintain high interest rates.

Technical indicators also suggest a downward trend for the Pound, with both the 50-day and 200-day Exponential Moving Averages having converged just below 1.3400.