The GBP/USD edged higher in reaction to the firmer wages and jobs data from the UK earlier this morning, ahead of the release of even more top-tier data from both sides of the pond.
It is inflation figures from both the UK and, first, the US, which is likely to set the tone for both currencies.
Ahead of the release of the much-anticipated US CPI later today, the GBP/USD was a touch firmer, holding onto a slight gain for the week around 1.2650.
All told, consolidation was the name of the game for this pair, as traders awaited direction from the inflation data. But the cable could start trending once this week’s inflation figures are out of the way.
It is inflation figures from both the UK and, first, the US, which is likely to set the tone for both currencies.
Ahead of the release of the much-anticipated US CPI later today, the GBP/USD was a touch firmer, holding onto a slight gain for the week around 1.2650.
All told, consolidation was the name of the game for this pair, as traders awaited direction from the inflation data. But the cable could start trending once this week’s inflation figures are out of the way.