Pound US Dollar Exchange Rate Forecast: Sterling Edges Lower despite Slump in US Retail Sales

  • Looking ahead, focus for the GBP/USD exchange rate during Wednesday's European session will likely be the release of the UK's latest consumer price index (CPI). Headline inflation is forecast to tick down from 3.5% to 3.4% in May, with core inflation expected to ease from 3.8% to 3.6%.