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Pound to US Dollar Rate Slides ahead of Fed Minutes
The U.S. Dollar rallied through the midweek session amidst poor investor sentiment and ahead of the release of the minutes of the Federal Reserve's May meeting. Investors are keen to find out how aggressively the Fed will raise interest rates over coming months in order to tackle inflation. Expectations for the total number of rate hikes to be delivered by the Fed have fallen over recent days and the yield paid on U.S. government bonds fell as a result, with analysts blaming rising expectations for a recession in the U.S. This decline in expectations and yields pulled Dollar exchange rates lower and allowed the Euro, ... (full story)