Forex
GBP/USD Sees Unexpected Boost Amid US Inflation Anticipation
The Pound Sterling has strengthened against the US Dollar on Wednesday, with no clear catalyst behind the move. The GBP/USD pair rose by 0.15% to 1.3560 during the North American session.
Traders are bracing for US inflation data, which is due out soon. The ongoing conflict in the Middle East has also weighed on oil prices and impacted the relationship between oil and USD.
UK Chancellor John Healey announced measures to encourage economic growth and attract private investment into the UK, which provided some support to the British Pound against the US Dollar.