Business · 28 July 2026
Pound falls to a three-week low as traders expect a US rate rise
The pound dropped as cheaper oil eased inflation worries while traders bet more heavily on a US interest rate rise this week. Sterling traded near $1.327 on Tuesday, close to its weakest since early July, as Brent crude fell 2.6% to $86.08 a barrel. Markets now see nearly a 40% chance the Fed hikes rates on Wednesday, up from about 20% a week ago.
Reported by Reuters · How we write briefs