GBP/USD lurched into a fresh 29-month peak as the US Dollar recedes.
Markets continue to tilt into a risk-on stance as Fed rate cut hopes continue.
UK economic data releases remain thin this week, US PCE inflation looms on Friday.
GBP/USD tested into a fresh multi-year high on Tuesday, easing into a 29-month peak of 1.3266 as the Pound Sterling continues to catch a ride on a broad-market Greenback sell wave. Investors have piled into hopes for a September rate cut from the Federal Reserve (Fed), and US Personal Consumption Expenditure Price Index (PCE) inflation figures not due until Friday leave markets with little meaningful data to chew on until then.
Fed Chair Jerome Powell all but confirmed that the central bank will pivot into a rate-cutting cycle on September 18 during an appearance at the Jackson Hole Economic Symposium last Friday, sending market appetite into the ceiling ocne again.
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