The British Pound gains ground against the US Dollar as softer US inflation data weighs on the greenback.
The GBP/USD pair climbed to near 1.3500 in early Asian trading on Thursday, extending modest gains. The move follows a softer US Dollar, driven by tame US inflation data that reduced demand for the currency.
Market participants are now focused on upcoming UK GDP figures, which could influence the Bank of England’s policy outlook. The pair had previously traded in a tight range as investors awaited fresh economic cues.
No immediate market reaction was reported beyond the incremental move in the currency pair.