Forex
GBP Holds Steady Near 1.3500 as Traders Eye UK GDP and US Inflation Data
The British Pound has stabilized near the mid-1.3500s against the US Dollar as traders await key data releases on UK GDP and US inflation.
Rising Fed rate-hike bets and geopolitical uncertainties have limited losses for the safe-haven USD, keeping the GBP/USD pair's downside in check.
Strategists at Scotiabank note that this week's inflation data will be pivotal for the policy outlook, with market pricing still favoring further tightening and around a 60% chance of a 25bps tightening move next week.