Pound falls for third day as energy prices boost dollar
The pound fell for a third day as energy costs and Middle East tensions boosted the dollar. Markets now see a potential rate hike as inflation expectations rise.
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The British pound retreated for a third consecutive session as the GBP/USD pair faced pressure from a strengthening dollar, driven by concerns over rising energy costs and geopolitical instability in the Middle East. While the United Kingdom remains vulnerable to energy price shocks, the pound has shown relative resilience compared to several other major currencies since the start of the conflict on February 28.
