The GBP/USD pair dropped 0.21% following a hot inflation report from the U.S., which led traders to rethink their expectations regarding potential rate cuts from the Federal Reserve. The pair currently trades at 1.3545 after previously reaching a daily high of 1.3594.

Traders must consider how economic reports influence currency pairs. Staying updated on these developments is essential for making informed trading decisions in the forex market.

For continuous updates on forex trends, check out entreprenerdly.com for in-depth analysis.