GBP/USD breaks above 1.3800 mark, FTSE100 near two-week high

British Pound has been witnessing excellent gains in last few sessions and broke above 1.3800 mark today, holding near four- and half-year highs against the US dollar. The US currency has turned very tepid recently and dollar index dipped near 96 mark after US Federal Reserve Chair Jerome Powell said that the central bank would consider reducing the policy rate after prices declined. GBP/USD pair currently quotes at 1.3813, up marginally on the day. The pair has gained 2.66% this month. On NSE, GBP/INR futures are 127.22, up 0.33% on the day after nearing 127.50 mark earlier in the session. Meanwhile, UK equities are rising impressively with the FTSE100 index up half a percent today to approach two-week high.

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