The post British pound defends 1.3600 vs. USD as traders await US CPI appeared on BitcoinEthereumNews.com.

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets. The crucial US Consumer Price Index (CPI) report will play a key role in influencing market expectations about the US Federal Reserve’s (Fed) rate-cut path. This, in turn, will drive the US Dollar (USD) demand and provide some meaningful impetus to the GBP/USD pair. Ahead of the key data risk, the markets are pricing in a greater chance that the US central bank will cut interest rates at least two times in 2026, which keeps the USD bulls on the defensive. Apart from this, growing concerns about the Fed’s independence fails to assist the USD to build on the blowout US Nonfarm Payrolls (NFP) report-inspired bounce from a two-week low, touched on Wednesday. However, the risk-off impulse offers some support to the safe-haven Greenback and acts as a headwind for the GBP/USD pair. Adding to this, dovish Bank of England (BoE) expectations contribute to capping the upside for the British Pound (GBP). In fact, the odds of a 25 basis points (bps) BoE rate cut as soon as March increased following the release of mostly disappointing UK macro data on Thursday. In fact, the preliminary report published by the Office for National Statistics showed that the UK economy expanded by 0.1% in the October-to-December period, matching the slow pace recorded in the third quarter. The reading also fell short of the BoE’s forecast of 0.2% growth, backing the case for further easing. Meanwhile, UK Prime Minister Keir Starmer received backing from his cabinet and Labour MPs following a tumultuous period sparked by fallout from the Jeffrey Epstein files and the resignation…

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Filed under: News - @ February 13, 2026 2:23 am