The British Pound powered to a new 2024 high against the U.S. Dollar after data showed the U.S. labour market was weaker than previously expected, which will push the Federal Reserve into action.

Will the Pound continue to move higher against the Dollar and potentially hit fresh 2024 highs? A new analysis warns of a potential near-term setback.

Pound Sterling reached a key level against the U.S. Dollar amidst improved global investor sentiment.

The Dollar has fallen to a seven-month low amidst a build-up in expectations for a September interest rate cut at the Federal Reserve.