Mumbai, May 15 -- The British Pound slumped in last session amid an overwhelming surge in the US dollar. The US dollar index broke above 99 mark on higher US Treasury yields. It currently quotes at 99.01, up 0.28% on the day as elevated inflation are triggering chances of Federal Reserve interest rate hikes potentially starting in December. GBP/USD pair tumbled by nearly 1.5% in intraday moves yesterday as a break under 1.3500 mark extended. The pair lost further today and currently quotes at 1.3356, down 0.37% on the day - testing its five-week low mark. On NSE, GBP/INR futures slumped 0.88% to trade at 128.3, witnessing intense pressure at the start of the day.

Published by HT Digital Content Services with permission from Capital Marke...