Sterling erased earlier gains against the US Dollar on Monday, with GBP/USD trading broadly flat near 1.3235 during the European session. The move followed a turnaround in the Greenback, as markets adopted a more cautious tone ahead of the US Consumer Price Index release for September due on Wednesday.
US Dollar Index Performance
The US Dollar Index, which tracks the currency against six major peers, was up 0.15% at around 102.38.
US Consumer Price Index Forecasts
Forecasts point to headline CPI rising 3.7% year-on-year, up from 3.4% in August, while core CPI, excluding food and energy, is seen at 2.5% year-on-year versus 2.4% previously.
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