GBP Holds Steady Above $1.3500 as Traders Eye Crucial Economic Data

The British Pound has maintained its position above $1.3500 against the US Dollar as traders await key macroeconomic data from the United States and the UK.

The GBP/USD pair has been in a state of consolidation, with investors opting to remain cautious ahead of the release of the US Consumer Price Index (CPI) report later today.

This crucial economic indicator is expected to have a significant impact on Federal Reserve interest rate expectations, with some traders anticipating heightened concerns regarding inflation risks.

The UK's preliminary Q2 GDP figures are also due out on Thursday, which may further influence market sentiment and potentially affect the value of sterling against the dollar.