December 22, 2023 – Written by Tim Boyer
STORY LINK US Dollar Weakness Outweighs Pound Sterling Selling Interest
The US Dollar and Pound both struggled on Thursday, primarily under the weight of interest rate expectations.
Markets remained convinced that the Federal Reserve will cut interest rates relatively early in 2024 and this week’s UK inflation data has brought forward expectations of Bank of England rate cuts.
As the Euro to Dollar (EUR/USD) rate strengthened to test the 1.1000 level, the Pound to Dollar (GBP/USD) exchange rate rallied to…
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