British Pound Gains Near 1.3200 Ahead of US PCE Data

The British Pound (GBP) edged higher against the US Dollar (USD) on Thursday, with the GBP/USD pair climbing toward the 1.3200 level. The move came as market participants reduced their long US Dollar positions ahead of the US Personal Consumption Expenditures (PCE) Price Index data due later in the session.

The US PCE Price Index is the Federal Reserve's preferred inflation gauge. Traders are looking for clues on future Fed policy. A lower reading could weaken the dollar further, while a higher print may reverse the pound's gains.