GBP Struggles as USD Bulls Eye Key US Economic Releases

The British Pound (GBP) has been struggling to recover from its two-month low of around 1.3200, set on Tuesday.

This is largely due to the Fed's rate hike bets and geopolitical risks that are benefiting the safe-haven US Dollar (USD).

Traders are looking to the release of the US Personal Consumption Expenditures (PCE) Price Index and the final Q2 GDP print for any meaningful impetus.

The PCE Price Index, which is the Federal Reserve's preferred gauge of inflation, will be released later today.