Pound to Dollar Exchange Rate Under Pressure Amid Hawkish Fed Expectations

The Pound (GBP) to US Dollar (USD) exchange rate remains under pressure due to expectations of higher US interest rates. The GBP/USD pair has been trading near a three-week low, with investors seeking safe-haven assets amid renewed weakness in global technology stocks.

The latest selloff in tech shares has encouraged demand for the US Dollar, which is now trading at $1.3295 against the Pound. This move is likely to continue if the Federal Reserve reinforces expectations for higher US interest rates on Wednesday.

Meanwhile, Sterling traders are waiting with bated breath for Thursday's Bank of England decision, where officials will leave interest rates unchanged at 3.75%. Markets expect no change in policy, but a hawkish statement could bolster the 'Greenback' and put further pressure on the Pound.