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GBP/USD Maintains Downward Trend After BoE Remarks and U.S. Inflation Data

M. Ali 11 June, 2021 2:57 am Forex Market, Market Update

The British Pound (GBP) declined against the U.S. Dollar (USD) on Thursday, after data showed a surge in the inflation rate in the United States.

The GBP/USD pair maintained its downward trend for the third consecutive day, failing by about 0.17% to 1.4094.

The Sterling rose earlier in the session against the greenback, following remarks by Bank of England’s (BoE) chief economist, Andy Haldane, who warned against the risks of high inflation.

On the other hand, staling negotiations between London and the European Union regarding an arrangement for Northern Ireland weighed on the GBP.

Meanwhile, consumer prices in the U.S. last month registered their biggest rise since 2008.

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