GBP Retreats from Weekly High as Fed Hawkishness Weighs on USD

The British Pound (GBP) has retreated from its weekly high against a stronger US Dollar (USD), as market focus shifts to upcoming events. The GBP/USD pair currently trades around mid-1.3300s, down over 0.10% for the day.

This decline comes after the USD regained some positive traction following the previous day's post-FOMC slide to an over one-week low. The US Federal Reserve (Fed) held interest rates steady at the end of a two-day meeting on Wednesday, but refrained from adopting a more aggressive stance on monetary policy.

Despite this, the Fed's hawkish vote record weighed heavily on the Greenback. Meanwhile, the GBP has been supported by stronger UK lending data and stabilizing Bank of England (BoE) expectations.