Pound Surges on Hawkish Vote Split, USD Faces Further Weakness

The British Pound has risen against its major currency peers at the start of this week's UK Q2 GDP data week.

Despite a more hawkish voting split than expected from the Bank of England (BoE), Governor Bailey's cautious tone suggests little support for the Pound in the near term.

The US Dollar, on the other hand, trades marginally higher after a weak Friday but is expected to weaken further with the Federal Reserve (Fed) now seen as unlikely to hike interest rates at its September meeting.