The British Pound responded positively to the UK's GDP figures which revealed a growth of 0.6% in the second quarter, aligning with market expectations.
Despite a slight rise in inflation to 2.2% in July, the BoE foresees a continued decline in inflation and a potential less restrictive policy, limiting the pound's upside.
Market focus shifts to upcoming U.S. retail sales data. Strong data could bolster the dollar and apply pressure on the pound-dollar pair.
With UK retail sales expected to strengthen, there’s potential for further support for the pound amidst a backdrop of softening monetary policy.
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