EUR/GBP inches lower after registering gains of more than 1% in the previous session, trading around 0.8690 during the Asian hours on Wednesday. The currency cross remains subdued following the release of mixed United Kingdom (UK) inflation data.
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 EUR/USD rallied to a four-year high of 1.1878 on Tuesday as investors ditched the Dollar on increased bets that the Federal Reserve will resume its easing cycle this week. The pair trades at 1.1865, up almost 0.90% at the time of writing.