The pound fell against the dollar for a third day, largely due to a rising oil price and ongoing conflict in the Middle East. The Bank of England (BOE) is expected to raise rates at least twice before the end of the year, as is the European Central Bank (ECM). However, given Britain's dependence on energy imports and its fragile government finances, sterling has faced criticism over the past month due to its dependence on the energy imports. Some analysts believe the BoE has less room to raise interest rates this year and could unwound bets on successive rate hikes.