Sterling fell to its lowest level in 10 weeks

The pound fell against the US dollar to its lowest level in ten weeks, and the Bank of England is expected to raise interest rates for the 15th consecutive meeting in September to 5.5%.

The British pound fell against the US dollar, by 0.1%, to $1.2591, after hitting $1.2560, the lowest level since June 13, and the euro recorded 85.72 pence.

The data showed that the GfK Consumer Confidence Index in Britain rose to -25 in August from a three-month low of -30 in July, the biggest rise since April, as falling inflation made people less pessimistic about the future of their personal finances.

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