The GBP/USD pares some of last Friday’s losses, moderately edges up as the latest inflation report in the United States might not deter the Fed from cutting rates this week. At the time of writing, the pair trades at 1.3319 up 0.07%.
Firmed underlying tone is likely to lead to US Dollar (USD) trading in a higher range of 152.40/153.30. In the longer run, upward momentum is starting to build, but for a continued advance, USD must first close above 153.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The GBP/JPY pair posts a fresh two-week high near 204.00 on Monday, and trades 0.25% higher during the early European session.