GBP fell during  US session to its lowest level since the end of August of the previous year against USD amid a lack of economic data on Wednesday for the British economy and its counterpart the US economy, the world’s largest economy.

At 03:02 GMT GMT, the GBP USD pair dropped 0.44% to 1.2882, compared with the opening levels at 1.2939 after the pair hit a year low of 1.2854, while the highest at 1.2960.

Earlier in the day we discussed the Federal Open Market Committee (FOMC) and Federal Reserve Bank Chairman Thomas Parkin at the Ton Hall event in Virginia, where he said that interest rates should continue to be raised to normal levels. Will depend on economic growth.

Parkin noted that the strength of growth and fiscal stimulus helped ease the risk of interest rate increases. He said the Federal Reserve should move ahead with monetary policy adjustments. Unemployment is low and inflation is close to the FOMC target. Market tensions, saying that the United States faces many challenges to achieve sustainable growth.

In another context, US President Donald Trump said that the US gross domestic product record levels, saying that no one expected that America can achieve growth of 2%, but it is now achieving 4.1% growth, adding that he expects to accelerate growth during the coming period in conjunction With his country signing independent trade agreements, explaining that he expects to exceed US gross domestic product 5% in the next quarter in the event of signing good trade agreements for America.