Pound Sterling has recorded a new two-year high against the Dollar amidst a rejuvenated global equity market rally with one market professional saying any weakness will only invite more buying interest.
Pound Sterling powered to fresh two-year highs at the end of last week, buoyed by the Federal Reserve's commitment to a September rate cut. But, the rally is looking stretched.
"The time has come for policy to adjust," said Federal Reserve Chair Jerome Powell, in a clear sign U.S. interest rates are about to fall.
Dollar Primed for a Brief Comeback
- Category: USD
The Dollar (USD) could make a comeback in the wake of a key speech by the Chair of the Federal Reserve, which forms today's marquee event for financial markets.