GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt, but the hawkish tone from the Bank of England sparked some optimism into the Pound pushing GBP/USD above recent resistance at 1.3720, with Dave Ramsden and Michael Saunders, two of the Monetary Policy Committee (MPC) members, voting for an early end to the pandemic stimulus.
The dollar sits at a one-month high as the FOMC prepares to meet, with a possible announcement on tapering expected.
Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 20 September 2021. IG
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