Business · 5 hours ago
Pound stays near seven-week low as energy prices and interest rates remain in focus
Sterling dropped slightly against the dollar and the euro on Monday as traders tracked energy costs and central bank policy. The Bank of England held rates steady last week, though it warned of possible hikes if the ongoing war in Iran continues to restrict global energy supplies. Markets are pricing in a 65% chance of a rate increase in November, with four quarter-point bumps expected by the end of next year.
Reported by Reuters · How we write briefs