GBP Strengthens Against USD Amid Weakening Dollar

The British Pound (GBP) is experiencing a bullish trend against the US Dollar (USD), up 0.2% to near 1.3557 during the European trading session on Wednesday.

This comes as the US Dollar faces selling pressure, with traders scaling back Federal Reserve interest rate hike bets due to weak United States economic data for August.

The GBP/USD pair trades higher as investors await the release of the Federal Open Market Committee (FOMC) minutes of the July policy meeting at 18:00 GMT.

Analysts at ING highlight that while there may be a few hawkish references in tonight's minutes, they stress that 'we do not see the minutes as a game changer'.