Pound drops to 3-month low

The British pound has fallen to its lowest level since the beginning of July, dropping by 0.10% to $1.3222, marking a decline of approximately 1.25% since the start of the week. This decline is due to the re-pricing of the dollar following the US Federal Reserve's hawkish move last week. The pound also slightly weakened against the euro amid expectations that US interest rates will continue to rise. Additionally, there are forecasts of a minimum 25 basis point increase in UK interest rates in the coming months, as inflationary pressures intensify and business activity in Britain slows down.

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