Dollar strength ahead of Federal Reserve Chair Jerome Powell’s speech on Tuesday pushed the British pound 0.3% lower on the day, as it traded at $1.198 at midday London time.
Bank of England rate-setter Catherine Mann said in the morning that the pound could face downward pressure if investors have not yet fully priced in hawkish signals from the Fed and the European Central Bank, Reuters reported.
This article was originally published by CNBC.