GBP/USD Steadies Ahead of Key US Inflation Data Release

The GBP/USD currency pair traded flat on Monday as investors waited for the release of US Consumer Price Index (CPI) data later in the week.

The market's wait-and-see approach is due to the significant impact that inflation figures will have on the Federal Reserve's monetary policy trajectory.

Economists polled by Reuters expect a slight cooling in headline inflation, but core prices are likely to remain sticky, potentially prompting the Fed to maintain a hawkish stance.