British pound hits seven-week low

The British pound slightly declined to remain near its lowest level in seven weeks, amid traders' anticipation of energy prices and expectations for central bank interest rates. It fell to $1.338 and made a small gain against the euro, as divisions continue over the likelihood of the Bank of England raising interest rates in November and its future plans. Meanwhile, currencies are influenced by oil prices performance and geopolitical tensions with Iran. Markets are watching upcoming PMI data and recurring interest rate hike expectations, amid cautious optimism about the pound potentially regaining its previous levels.

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