Pound Edges Higher as USD Softens Ahead of Key US Data

The British Pound (GBP) has edged higher against the US Dollar (USD) during the North American session on Monday, rising by a modest 0.09%.

This comes as the USD softens ahead of the release of key economic data from the United States, including Nonfarm Payrolls figures and inflation data, due out later this week.

The Pound's gain is also attributed to last Friday's hawkish remarks from Federal Reserve Chair Kevin Warsh, who emphasized that inflation remains above target and is a priority for the central bank.

Warsh's comments had sparked increased expectations of a rate hike at the Fed's next meeting on September 16, with markets pricing in a 64% chance of an increase.