The pound fell as traders continued to abandon it ahead of the Bank of England meeting on Thursday, the bank is expected to keep interest rates unchanged as concerns about Brexit negotiations with the EU grow.
The pound has fallen sharply recently amid speculation that the Bank of England will not support monetary tightening as early as expected because of the weakness of the British economy. The GBPUSD is currently trading at 1.3490, its lowest level since the beginning of this year.
The US dollar rose to its highest level in 2018 during trading today, and against a basket of currencies the dollar index rose to levels of 92.97 the highest since December 28. The rally came as the pound and the euro were under pressure.
The pressure on the euro came because of early elections in Italy, and the pound because of expectations that Bank of England raising interest rates at Thursday's meeting has fallen.
Markets eyes will be on the evening to announce of Trump on the United States decision on the Iranian nuclear deal and with the withdrawal of the United States, it could affect the sentiment of the market, especially the oil market.
