The British Pound traded within a narrow range against the US Dollar on Thursday, showing slight strength near 1.3555 during the early European session. This movement was supported by a softer US Dollar as markets awaited the release of the US Producer Price Index (PPI) inflation data.
According to FX Street citing UOB analysts Quek Ser Leang and Lee Sue Ann, the GBP/USD pair has been trading sideways between 1.3531 and 1.3567. They maintain a neutral outlook around 1.3545, suggesting that price action is likely to remain contained within a tighter range of 1.3495 to 1.3590.
For Japanese investors, this cautious GBP/USD trading ahead of key US inflation figures highlights the continued sensitivity of currency pairs to US economic data, which can influence broader risk sentiment across FX and equities markets in Asia.