Sterling nears monthly lows on oil prices and Fed bets
The British pound languished near one-month lows against the strengthening dollar on Tuesday. Elevated crude oil prices and mounting expectations of Federal Reserve rate hikes weighed heavily on the currency.
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GBP/USD eased 0.2% to $1.347 during Tuesday morning trading, touching its lowest level since August 7 against a stronger dollar. The currency decline comes as surging energy costs compound pressure ahead of upcoming central bank decisions. Markets are weighing aggressive policy shifts as macroeconomic conditions tighten globally.
