GBP/USD lost its traction and declined to the 1.3500 region in the second half of the day, erasing its daily gains in the process. Earlier in the day, UK inflation data came in in line with expectations, as the Consumer Price Index (CPI) rose 3.3% YoY, cooling concerns about overheated inflation. Meanwhile, re-escalating tensions in the Middle East support the US Dollar and cap the pair’s upside.
Source: https://www.fxstreet.com/news/united-states-eia-crude-oil-stocks-change-registered-at-1925m-above-expectations-12m-in-april-17-202604221430
