Financeroll – Pound slipped lower against the US greenback on Monday (22/6) afternoon. Supported by the demand for the greenback amid a gradual interest rate hikes from the Fed.
GBPUSD weakened -0285 at the level of 1.5843. Fed lowered its growth forecast and projection of its flowers, prompting investors to push back expectations of a rate rise at the beginning.
Governor of the Fed, Janet Yellen said the central bank would like to see the first evidence of sustained growth before raising interest rates, though it was recognized that the economy has sufficiently progressed after a weak first quarter.
Pound has found some additional support in the last week, after data showed that public sector borrowing rose £ 9.35 billion last month, from a revised £ 5.46 billion in April. The market expects public sector net borrowing to rise in the level of £ 10.05 billion in May.
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