GBP/USD Consolidates at Month’s Lows Amid Dollar Strength
The pound traded around 1.3283 on Wednesday, hovering near a one-month low as safe-haven dollar demand firmed on Fed rate-hike expectations and Middle East tensions.
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GBP/USD held near 1.3283 during Wednesday’s session, barely rebounding from the prior day’s slide to the weakest level in almost a month.
The dollar drew bids as markets repriced the possibility of further Federal Reserve tightening, while investors tracked geopolitical risks in the Middle East that spurred haven flows. Sterling found little support, leaving the pair pinned near the recent floor.
Traders now await the next batch of U.S. data for direction. Until then, the near-term bias remains skewed to the downside.
Source: FXStreet Forex News