Sterling Rises Ahead of UK Inflation Data as Dollar Weakens

The British pound rose against a basket of global currencies on Wednesday, nearing a three-month high as investors awaited key UK inflation data for July.

The price of sterling increased by around 0.1% to $1.3544 from an opening level of $1.3535, with the pound having reached a low of $1.3524 earlier in the day.

The US dollar index fell by 0.15% on Wednesday, reflecting renewed weakness in the US currency against global peers.