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GBP/USD stays lax around 1.3400 mark, UK economic cues tepid

10-Jun-26 13:04Hrs IST

British Pound saw tepid moves after rising in last session as geopolitical worries stayed in focus. Broad economic outlook is lax for UK though, capping the currency. The Confederation of British Industry trimmed its UK growth forecasts on Tuesday while sharply revising inflation expectations upwards, on the back of the ongoing war in the Middle East. It now expects GDP to grow by 1.1% in 2026 and 0.9% in 2027. In December, it predicted GDP growth of 1.3% for this year and 1.5% for the next. This weighed on the UK stocks as FTSE100 index lost 1.25% in last session. GBP/USD pair is currently trading at 1.3390, almost unchanged on the day. On NSE, GBP/INR futures are quoting at 127.55, down 0.19% on the day as a break under 128 mark is pulling the counter lower.

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