Pound Dips Near 1.3500 as Dollar Firms Ahead of Inflation Data
GBP/USD edged lower during Asian trading on Wednesday, pressured by a stronger US dollar and geopolitical concerns, with traders eyeing upcoming inflation figures.
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The British pound slipped against the US dollar in early Asian trade on Wednesday, with GBP/USD hovering around the 1.3500 handle after a flat previous session. The move lower comes as the greenback gathered strength ahead of a key US inflation report, while simmering geopolitical tensions dampened risk appetite.
Market participants are focused on the inflation data, which could influence the Federal Reserve's rate path and further drive dollar demand. The pound's decline was contained, but sentiment remains fragile.
Source: FXStreet Forex News