GBP/USD Logs Worst Loss in Two Months Settles at Lowest Level in a Month

The British Pound (GBP) declined on Thursday for the fourth consecutive day, maintaining a negative performance against the U.S. Dollar (USD) since the beginning of the week.

The GBP/USD lost 0.82%, its biggest daily loss since June 18, to reach 1.3641, its lowest level since July.

Month-to-date the pair is down by 1.87%.

Recent data showed a lower than expected inflation rate in the UK last month, while growth in the second quarter of the year exceeded expectations, leading to concerns that it might have reached a peak.

Earlier today, data showed that UK consumer confidence worsened in August, as the GfK index declined to -8 from -7 in the previous month.