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fxJun 17, 2026, 3:57 PM

Sterling Slides on Soft UK CPI, US Retail Sales Support Dollar

The British pound fell toward 1.3400 against the U.S. dollar after weaker-than-expected UK inflation data reduced the likelihood of a Bank of England rate hike, while strong U.S. retail sales boosted the greenback.

GBPUSD

The British pound declined on Wednesday, retreating toward the 1.3400 level against the U.S. dollar. The move came after the latest UK consumer price index (CPI) report came in softer than anticipated, prompting traders to dial back hawkish bets on the Bank of England.

At the same time, solid U.S. retail sales figures reinforced the narrative of American economic exceptionalism, providing additional support for the greenback. The combination of weaker UK inflation and stronger U.S. data weighed on GBP/USD, which traded with losses for the session.

Source: FXStreet Forex News