Fed caution pushes Pound to 10-month high against $

Jul 27, 2017, 7:31 AM EDT
(Source: Victor/flickr)
(Source: Victor/flickr)

Following U.S. Federal Reserve’s cautious tone on inflation outlook, the pound hit $1.3146, which is its highest level since September last year.

Analysts opine that the latest slide in the dollar was sparked by a “dovish touch” in July’s Federal Reserve policy statement, notes Express.

American central bank’s statement fueled expectations that the next interest hike might be delayed until next year, which experts view as hardly a vote of confidence in the U.S. economy, notes The Guardian.