The British pound fell to $1.3474 on September 14, marking its lowest level against the US dollar since August 7. This represents a single-day decline of 0.4 percent.
Brent crude prices rose by 3 percent to $108 per barrel. This increase follows supply concerns linked to Houthi attacks on Saudi Arabian infrastructure and the closure of a major pipeline.
Market participants anticipate a 75 percent probability that the Federal Reserve will raise interest rates during its meeting on September 16, further strengthening the dollar.
Despite the currency decline, the UK reported July GDP growth of 0.4 percent, which exceeded market expectations of flat output.
The UK faces structural pressure as a net energy importer, while the US benefits from its status as a major oil producer, contributing to the divergence in currency performance.
