The Pound US Dollar (GBP/USD) exchange rate is trading +0.1% just shy of US$1.29 on its third days of gains.
UK inflation beat forecasts +0.2% YoY in August better than 0% forecast. Core inflation +0.9% YoY vs +1.8% in July
Attention will now turn to the Bank of England’s monetary policy announcement
The US Dollar is edging lower ahead of the Federal Reserve monetary policy announcement later. The Fed are not expected to adjust policy. Attention will be on the update economic projections and any further clarification on the new average inflation target approach.