Pound Surges as US Rates Loom

The British pound surged to its highest level against the US dollar in over two months, reaching $1.3457, as investors anticipate faster interest rate cuts in the US than in the UK. The Federal Reserve is expected to deliver at least two more rate cuts next year, while the Bank of Englands recent rate cut was a close decision, leaving uncertainty about further cuts. The pounds strength may persist if the US continues to lead in rate cuts, impacting various aspects, including trade and home loans.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.