British Pound Sterling collects a refund on the Fed hike that never cameThe Federal Reserve (Fed) held its target range at 3.50% to 3.75% at 18:00 GMT on a 9-3 vote, with three voting members preferring an immediate quarter-point increase. Sterling read that as a refund rather than a warning, spiking roughly 40 pips into the 1.3350 area within minutes and printing its best level in two days. Futures pricing carried better than a third of a hike into the meeting, and that premium came out of the US Dollar on the headline. Read More...British Pound holds below 1.33 as Trump warns Iran, Oil jumpsThe Pound Sterling holds firm on Wednesday as the US-Iran conflict escalates, with US President Donald Trump warning of further attacks on Iran in retaliation for Tehran's strikes on US forces in Jordan. Growing concerns about UK PM Burnham’s welfare reforms and an adverse monetary policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) are hammering the Pound ahead of key monetary policy decisions.