British Pound futures reach 6.5-month highs on weaker dollar.

Bob Iaccino of Path Trading Partners analyzes the currency markets, noting that British Pound futures rallied for a third consecutive session to reach six-and-a-half-month highs. Despite mixed U.K. economic data showing a 0.5% drop in July retail sales alongside a rising composite PMI, the pound continues to find support. Iaccino highlights that the bigger driver for the currency is coming from the U.S. side, where softer economic data and Treasury buyback plans are easing Fed expectations and putting pressure on the dollar.