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.

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.

A deflating U.S. Dollar and a strong UK economic survey have combined to propel the Pound to Dollar exchange rate above 1.31.