The Pound to Dollar exchange rate could test the 2024 high at 1.3250 if the Federal Reserve cuts interest rates by 50 basis points this week.
The British Pound is looking better supported against the Dollar, which sets up a platform for a more substantive rebound heading into next week's Federal Reserve interest rate cut.
The Dollar was stronger after U.S. inflation beat expectations in August, with the important core CPI inflation reading hitting 0.3% m/m, beating consensus expectations of 0.2%.
Dollar's Verdict is Harris Won the Debate
- Category: USD
The Pound to Dollar exchange rate (GBP/USD) trades higher in midweek trade, with some analysts attributing a weaker USD to a strong showing by U.S. Presidential Candidate Kamala Harris.