Money markets are now pricing in a 93% chance of an interest rate hike at the Fed in June.
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Having put in a commanding performance against the US Dollar in April those with an eye on the foreign exchange market place will be questioning if the Pound can do the same in May.
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The USD Index dipped 0.08% after the release of manufacturing and inflation data which undershot expectations on Monday.
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Fears that the Federal Reserve (Fed) could scrap plans to raise interest rates by a quarter of a percent in June are exaggerated, says Nordea Bank’s Johnny Bo Jakobsen, in a note seen by Pound Ster…
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GBP/USD has broken out of its previous range and run up to the 1.2950s, following Theresa May’s calling of a snap general election in June.
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The US Dollar was little changed after the release of US Q1 GDP data despite results showing a much deeper slowdown than analysts had forecast.
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The Pound has shrugged off worse-than-expected GDP data and is continuing to rise.
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