Forex
Pound Edges Higher Amid Softer US Inflation Data
The British Pound has strengthened against the US Dollar, rising by 0.14% on Monday as investors digest softer-than-expected US inflation data.
Traders are now looking ahead to key UK jobs and inflation data releases, which could influence expectations for a potential rate hike from the Bank of England (BoE).
The GBP/USD exchange rate has bounced off daily lows of 1.3524 and is currently trading at 1.3552.
Recent US inflation data showed that prices rose by 0.1% month-over-month in July, below expectations, which has supported bets that the Federal Reserve (Fed) will hold interest rates steady at its September meeting.