The pound deepens its significant losses against the dollar for the sixth consecutive session.

The British pound deepened its sharp losses against the US dollar for the sixth consecutive session on Monday, reaching its lowest level since September 12.

The weakness of the British pound against the dollar was driven by stronger-than-expected US labor market data for September, which reinforced the likelihood that the US Federal Reserve will not rush into a rate-cutting cycle.

In contrast, the recent statements by Bank of England Governor Andrew Bailey continue to put pressure on the pound's performance in the currency markets, as Bailey indicated that the Bank of England is prepared to cut interest rates significantly and swiftly if inflation remains weak, noting that cost of living pressures are not persistent.

Market expectations regarding interest rate differentials between the United States and the United Kingdom favored the US dollar, further contributing to the decline of the pound against the dollar during current trading.

In currency market trading today, the pound-dollar pair fell by nearly 0.26% to reach approximately 1.3079 dollars.