GBP Holds Steady Ahead of US CPI Report

The British Pound (GBP) has remained steady against the US Dollar (USD), hovering around the psychological mark of 1.3500 through the first half of the European session on Wednesday.

Traders are waiting patiently for key macroeconomic data from both the US and UK, with the US Consumer Price Index (CPI) report due later in the day.

The US CPI data is expected to have a significant impact on Federal Reserve interest rate expectations, as Chairman Kevin Warsh signaled heightened concerns regarding upside inflation risks in the July policy meeting press conference.