Cable

The US dollar remained close to familiar levels after July inflation data matched consensus across headline and core measures. Softer jobs data and another decline in inflation have pushed more hawkish Federal Reserve expectations out of immediate focus.

The US dollar remained broadly steady after July inflation data landed in line with market expectations, limiting volatility across major markets. Softer jobs momentum and another cooling inflation reading have pushed more hawkish Federal Reserve expectations into the background for now.

GBP/USD remains trapped between 1.3400 and 1.3500, with US Dollar softness offering support but nearby technical levels limiting momentum. Friday’s US jobs, earnings and unemployment data could decide whether cable finally breaks higher or keeps rewarding short-term range traders.