Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
In Asia on Thursday, GBP/USD extended losses for the second consecutive day, falling to around 1.2320. The Fed maintained its hawkish stance, weighing on GBP/USD. As expected, the Federal Reserve…
