British Pound Hits Three-Month High Against Weaker Dollar
GBP/USD climbed to 1.3570, its strongest level in three months, as dollar longs were trimmed and Fed rate expectations turned more dovish.
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Sterling extended its advance for a second straight session on Monday, with GBP/USD reaching a three-month high around 1.3570. The move came amid broad-based US dollar weakness as investors reduced long dollar positions.
The shift in dollar positioning follows a dovish repricing of Federal Reserve monetary policy expectations. That repricing has weighed on the greenback and supported the pound's move higher.
Cable's strength reflects the current cross-asset adjustment in rate expectations rather than a pound-specific catalyst.
Source: FXStreet Forex News