Pound US dollar exchange rate improves as Federal Reserve hints at future rate cuts

The pound US dollar exchange rate edged higher today, with the pairing trading around $1.218 following dovish rate cut hints from the US central bank. Chicago Fed President Charles Evans said on Wednesday that the central bank’s policy had eased substantially since last year, but with slowing inflation and rising concerns over global trade, this could mean further rate cuts are required in the near-term.

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