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GBP/USD Treads Water as UK Inflation Accelerates Amid Strong Bank of England Policy

Guavy AI Editorial Team
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GBP
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The GBP/USD pair is trading at 1.3535, maintaining its position above the 50/100/200-day cluster at 1.3429.

However, UK inflation accelerated to 2.9% in July from 2.6%, with the highest reading since March.

The Bank of England's policy position is strong, with a 6-3 vote to hold Bank Rate at 3.75%, and three members pushing for an increase.

A decision on balance sheet reduction will also be made on September 17, which could impact gilt yields and sterling.

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