GBP Holds Steady Ahead of Critical US Inflation Data Release

The British Pound has held steady above 1.3500 against the US Dollar in early Asian trading on Friday, ahead of the highly anticipated August Consumer Price Index (CPI) inflation report from the US.

The GBP/USD pair remains range-bound near 1.3510, with traders exercising caution before the key data release later today.

Last Thursday's US Producer Price Index (PPI) reading came in hotter than expected at 5.4% year-over-year, surpassing market forecasts of 5.3%, while the core PPI rose by 0.2% month-on-month, slightly softer than anticipated.

Markets are eagerly awaiting the CPI inflation data release later today, which could provide valuable insights into the US Federal Reserve's interest rate path and potentially influence the Pound's value against the Dollar.