Pound holds above 1.3550 as softer US data cools Fed bets
GBP/USD traded near 1.3555 in early European hours after softer US data reduced expectations for Federal Reserve rate hikes.
GBPUSD
GBP/USD was trading around the 1.3555 area in early European trading on Monday. The dollar lost ground against sterling as market participants scaled back expectations for another Federal Reserve rate increase.
Softer US data was cited as the main trigger behind the cooler Fed rate-hike bets. With the greenback under pressure, the pair extended its advance and held above the 1.3550 mark.
Source: FXStreet Forex News