Pound US Dollar exchange rate: GBP/USD rises as US Federal Reserve slashes interest rates

The pound rose against the US dollar today after the US Federal Reserve cut rates for the third time this year, leaving the pairing trading around $1.292. The US Federal Reserve lowered its policy rate by 25 basis points on Wednesday. With no explicit signal from the bank that it’s done with easing, the statement was seen as less hawkish than anticipated, which weighed on the dollar.

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