The British Pound rises against the US Dollar as softer US economic data reduces expectations for a Federal Reserve rate increase.
The GBP/USD pair advanced to near 1.3555 in early European trading on Monday, extending gains above 1.3550. The move follows a decline in the US Dollar as market expectations for a Federal Reserve rate hike cool amid softer economic data.
Prior to this, the pair had struggled to sustain momentum above 1.3500, with Fed policy speculation driving volatility. Comparable periods saw similar reactions to US data releases, influencing dollar strength and cross-currency pairs.
No immediate market reaction details were provided in the source.