Forex
Pound Sterling Slips to Weekly Lows as Dollar Strength Persists
The British pound has fallen to weekly lows against the US dollar, trading below 1.3600 for the first time this week.
This decline is attributed to the strong performance of the US dollar, driven by robust economic data and hawkish signals from Federal Reserve officials.
The pound's weakness is also influenced by mixed UK economic indicators, including slow wage growth and inflation above the Bank of England's 2% target.
From a technical perspective, breaking below 1.3600 has opened the door for further downside towards the 1.3550 area, with resistance at 1.3630 and 1.3650.