The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for August.
GBP/USD loses ground after two days of gains, trading around 1.3640 during the Asian hours on Wednesday. The Pound Sterling (GBP) inches lower against the US Dollar (USD) ahead of the United Kingdom’s (UK) Consumer Price Index (CPI) and Retail Price Index data.
The USD/JPY pair remains under some selling pressure around 146.45 during the early Asian session on Wednesday. The US Dollar (USD) weakens against the Japanese Yen (JPY) as investors continue to assess the likelihood of extra interest rate cuts by the Federal Reserve (Fed) in the next few months.