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Sterling Steadies Above 1.35 Ahead of Fed and BoE Decisions Amid Middle East Tensions

Guavy AI Editorial Team
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The Sterling-dollar exchange rate has stabilized above the 1.3500 psychological level after Friday's rebound from its monthly swing low.

This comes as investors wait for key decisions from the Federal Reserve and the Bank of England, which are due on Wednesday and Thursday respectively.

US inflation data released last week reinforced expectations of a 25 bps rate rise, while Middle East tensions have driven demand for the US Dollar as a safe haven.

The escalation in tensions was highlighted by Yemen's Iran-backed Houthi forces saying they used drones and missiles against a military base in southern Saudi Arabia, and an Iranian cargo vessel being struck in the Strait of Hormuz.

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