Forex
Warsh Hawks Markets: GBP/USD Falls Below Key Support
The Pound to Dollar exchange rate came under pressure at the end of last week due to Federal Reserve Chair Kevin Warsh's hawkish speech, which strengthened expectations of a US interest-rate increase.
As a result, GBP/USD retreated to around 1.3535 on Friday, down almost 0.5% on the day and below the six-month highs above 1.3670 recorded earlier in August.
The Pound was unable to gain traction globally, while the Dollar received fresh support as investors reassessed the outlook for Federal Reserve policy.