The Pound Sterling (GBP) lost some ground against the US Dollar (USD) spurred by risk aversion amidst growing fears that the banking crisis in the United States (US), while the US debt ceiling theme, take the spotlight ahead of the Federal Reserve (Fed) decision. At the time of typing, the GBP/USD is trading at around the 1.2470-80 areas after dipping towards 1.2435. Sentiment deteriorated, even though JP Morgan acquired the First Republic Bank on Monday. The US bank crisis continues, as the KBW Regional Banking Index, dropped more than 6%, at its lowest level since November 2020. The GBP/USD dropped on a risk-off ... (full story)