Pound stays near 3-month low

The British currency, the British Pound Sterling, remains near its lowest level in about three months against the dollar and the euro, amid the dollar's rise driven by expectations of a US interest rate hike. Meanwhile, the pound is struggling to rise, with expectations of a slowdown in the pace of monetary policy tightening by the Bank of England. The dollar is expected to achieve its second consecutive weekly gain, supported by rising energy prices and increased bets on further rate hikes from the Federal Reserve, while the pound remains stuck at around 1.322 dollars, with forecasts predicting a decline in its performance in the coming months.

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