Pound Strengthens Toward 1.3550 as Fed Rate-Hike Bets Fade
GBP/USD climbed near 1.3550 in early Asian trading as cooler US inflation data reduced expectations for Federal Reserve tightening, with UK jobs data in focus.
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The British pound gained ground against the US dollar in early Asian trading on Tuesday, with GBP/USD approaching 1.3550.
Softer US inflation figures have led traders to scale back bets on further Federal Reserve rate increases, weighing on the dollar.
Market attention now turns to upcoming UK employment data, which may provide the next catalyst for the pair.
Source: FXStreet Forex News